The Securities and Exchange Commission’s enforcement staff told Bittrex in March it would recommend that the agency sue the company over alleged violations of investor-protection laws, according to David Maria, the company’s general counsel.
Seattle-based Bittrex was already prepared to wind down its U.S. operations when it got the notice, Mr. Maria said, citing the difficulty of working with U.S. regulators that have taken enforcement action against over 100 crypto defendants in six years. The SEC declined to comment.
The outcome shows how aggressive regulatory enforcement could drive some of the industry offshore and underscores how regulators are targeting crypto exchanges, including Coinbase Global Inc., after years of going after the companies that issued digital coins listed on those platforms….
Source: SEC Targets Bittrex, Fallen Giant of U.S. Crypto Exchanges – WSJ
