ChainCatcher news, according to a press release from Bittrex Global, the company will not have to pay any fees to resolve the enforcement action. Bittrex Global's legal advisor Andrew Michaelson stated, "Our client Bittrex Global will put this matter behind them without having to pay any settlement."Bittrex Global CEO Linch added, "While this is good news for Bittrex Global, it is not yet time to celebrate a victory. Instead, with this matter resolved, we can focus on building a vision for the future of cryptocurrency as a regulated, mature, and complex part of the broader financial ecosystem."It is reported that the Seattle-based exchange filed for Chapter 11 bankruptcy protection in May. Court documents show that Bittrex has over 100,000 creditors, with assets and liabilities estimated to be between $500 million and $1 billion.ChainCatcher previously reported that the U.S. Securities and Exchange Commission (SEC) announced that the cryptocurrency exchange Bittrex Inc. and its co-founder and former CEO William Shihara agreed to settle charges of operating an unregistered national securities exchange, broker, and clearing agency, and Bittrex Inc.'s foreign subsidiary Bittrex Global GmbH also agreed to settle charges of failing to register as a national securities exchange.

ChainCatcher news, Bittrex Global CEO Oliver Lynch stated in an interview that the U.S. Securities and Exchange Commission (SEC) accusing the cryptocurrency exchange Bittrex Global GmbH of violating local securities laws is "incorrect." Lynch mentioned that Bittrex Global was unaware it was the subject of an SEC investigation before receiving a notification that the SEC had "reached a preliminary conclusion." He added that the regulatory agency did not give Bittrex Global the opportunity to "explain the facts." Furthermore, Lynch claimed that the company "never claimed to provide services in the U.S." and would "strongly" defend its position that it has no customers in the U.S. Additionally, he stated that Bittrex's closure does not affect Bittrex Global's global operations, "Bittrex is a completely independent legal entity that only provides services in the U.S. and only serves U.S. customers. Global continues to serve customers in other parts of the world as usual."ChainCatcher previously reported that the SEC issued a Wells notice to Bittrex in March this year, accusing Bittrex of operating as an exchange, broker-dealer, and securities exchange without registering with the regulatory agency, violating the law, which will close its U.S. operations on April 30. (Source link)