SEC Files Lawsuit Against US Crypto Exchange Bittrex

The United States Securities and Exchange Commission (SEC) has recently filed a lawsuit against Bittrex and Bittrex Global in the Western District of Washington for violations of the law.

Gurbir Grewal, SEC Director of Enforcement, has expressed that the Commission’s actions are intended to demonstrate to other members of the crypto industry that they must adhere to the securities laws and be held accountable for any violations.

In response, Bittrex General Counsel David Maria stated that the company was in the process of winding down operations in the US when they received notice from the SEC. Maria added that the failure to comply was due to a lack of clarity in the agency’s requirements for digital assets.