According to a report from Reuters on October 31st, the bankruptcy plan of cryptocurrency trading platform Bittrex has been approved by the bankruptcy court, which will close its US business and allow the company to pay off remaining creditors in full through a liquidation plan.

Despite Bittrex filing for bankruptcy protection in May of this year, the exchange may still be profitable as many customers did not request refunds.

According to a court document submitted on Thursday, the bankrupt cryptocurrency exchange Bittrex reached a $24 million settlement with the US Securities and Exchange Commission (SEC) in April for operating an unregistered exchange. The exchange did not admit or deny the charges. Bittrex filed for bankruptcy protection under Chapter 11 of the US Bankruptcy Code in May. <br>

Crypto investment firm Paradigm has submitted an amicus brief in support of exchange Bittrex, arguing that the SEC is exceeding its jurisdiction. Paradigm claims that the SEC has wrongfully attempted to regulate crypto secondary markets, which it says is an undue extension of the Howey test.

July 2 (Cointime) - Cryptocurrency exchange Bittrex has submitted a motion to dismiss the lawsuit filed against it by the United States Securities and Exchange Commission (SEC), arguing that the SEC does not have the authority to regulate cryptocurrencies as securities without explicit permission from Congress. Bittrex's legal team has aligned its arguments with those made by Coinbase, indicating a strategic move to construct a unified defense against the SEC's lawsuit. Both Bittrex and Coinbase argue that once an asset is launched and actively traded on secondary markets, it should no longer be considered a security, but rather categorized as a commodity or another class of digital asset. The SEC filed allegations against Bittrex and its co-founder in April for running an unregistered national securities exchange.

July 1 (Cointime) - Seattle-based crypto exchange Bittrex is offering zero trading fees on its USDT markets, including BTC, ETH, ADA, DOGE, and XRP. This move comes despite the SEC labeling XRP and Cardano as "securities" in past lawsuits. Bittrex and its co-founder William Shihara have filed motions to dismiss the SEC's complaint, with a legal expert commending their decision not to agree to a speedy settlement. Bittrex argues that crypto assets traded on secondary markets are not securities and that the SEC lacks authority in this area under the Major Questions Doctrine.

July 1 (Cointime) - Bittrex, a cryptocurrency exchange, has filed a motion to dismiss a lawsuit brought against it by the U.S. Securities and Exchange Commission (SEC) alleging that the firm operated an unregistered securities exchange.

June 16 (Cointime) - Seattle-based cryptocurrency exchange Bittrex has been granted permission by a US Delaware federal court to allow its customers who meet regulatory requirements to access their accounts and withdraw their remaining digital assets. Eligible customers can process withdrawals from June 15 to August 31, with a minimum withdrawable amount of $25. Bittrex was charged by the US Securities and Exchange Commission (SEC) in April for operating an unregistered national securities exchange, broker, and clearing agency, but the company insists it operated within the law and looks forward to vindicating its position in court.

According to Cointime news on June 14th, Bittrex's U.S. arm will allow customer withdrawals from its trading platform on Thursday, following a ruling by a Delaware bankruptcy court. The exchange filed for bankruptcy in May and faced opposition from the U.S. government, which claimed it was owed millions for sanctions violations. The ruling allows customers with undisputed, noncontingent and liquidated claims to withdraw cryptocurrency assets and fiat currency, but does not determine who legally owns those assets or whether customer claims are favored over the government's. Bittrex's U.S. arm held $300m in customer cash and crypto as of May 10.

The US government has filed a legal challenge against Bittrex's proposal to return customer cash and crypto, as the company still owes millions for sanctions violations. Bittrex's US arm filed for bankruptcy in May after being accused of operating an unlawful securities exchange and reaching a settlement with the Treasury.