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US Crypto Exchange Bittrex Faces Potential Action From SEC: Report

Bittrex, a US-based cryptocurrency exchange, is facing potential legal action from the enforcement division of the US Securities and Exchange Commission (SEC) over alleged violations related to investor protection, despite preparing to shut down its US operations. Bittrex's general counsel, David Maria, said the exchange had already started shutting down its US operations when it was informed of the potential action. The SEC alleges that Bittrex had violated laws by doing business as an exchange, broker-dealer, and clearinghouse without registering with the regulator. Maria said that Bittrex's inability to comply was due to the lack of clear crypto regulations from the SEC. Bittrex announced in March that it would cease US operations due to regulatory and economic challenges.

(By HELEN PARTZ)

Bittrex SEC
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