.SEC_Enforcement told BittrexGlobal it will recommend legal action over alleged violations of investor protection laws before the latter announced it will exit the U.S. market, WSJ reported. By iamsandali
at the end of March that it will be winding down its operations in the U.S., in part thanks to challenging regulatory conditions. The company is uncertain if the SEC will take legal action since it is now exiting the market, according to the WSJ report.
If there is to be legal action, Bittrex would litigate unless the SEC “came with a reasonable settlement offer,” David Maria, the firm’s general counsel told the WSJ. SEC enforcement action against a several prominent crypto enterprises have sent ripples through the industry. In February, exchange platform Kraken
it was shuttering its crypto-staking program in the U.S. and paying $30 million to settle SEC charges.the U.S. Treasury Department's sanctions and money laundering watchdogs $30 million over allegations that the company had a poor compliance program between 2014 and 2017.
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