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Bittrex Bankrupt: SEC Claims Another U.S. Crypto Victim

Published 05/09/2023, 11:30 AM
Bittrex Bankrupt: SEC Claims Another U.S. Crypto Victim

  • Bittrex stated it would be leaving the U.S. by April 30.

  • Regulatory uncertainty was cited as the primary decision to leave.

  • In reality, the SEC’s crackdown on the exchange may be at the heart of the decision.
The Securities and Exchange Commission (SEC) has, in the wake of FTX’s collapse, been cracking down on crypto-based companies in the U.S. This has led to some firms standing up and fighting while others have decided to leave.

Following a decision by the SEC to sue Bittrex Inc for operating an unregistered securities exchange, the cryptocurrency exchange has filed for bankruptcy. Despite the bankruptcy filing, Bittrex was already working on leaving the U.S.

The SEC and Regulatory Uncertainty

On March 31, Bittrex announced that it would shut down its U.S. operations...

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