United States of America: Reached settlement in SEC lawsuit against Bittrex for allegedly operating an unregistered securities exchange

On 10 August 2023, the US Securities and Exchange Commission (SEC) announced it reached a settlement with Bittrex regarding allegations of Bittrex operating an unregistered national securities exchange, broker, and clearing agency (as well as Bittrex's co-founder and former CEO, and with Bittrex Global GmbH, a Bittrex foreign affiliate). With the settlement, the accused parties neither admit nor deny the allegations made by the SEC, and they accept a final judgement prohibiting them from violating sections 5, 15(a), and 17A of the Securities Exchange Act of 1934. Bittrex and Bittrex Global further agreed on a monetary payment of USD 24 million. The settlement is subject to court approval.