The United States Securities and Exchanges Commission (SEC) has taken action against yet another crypto entity. This time around, crypto exchange – Bittrex and its former CEO have fallen under the radar of the enforcement authority. In its press release, the SEC is taking action against the crypto exchange and its former executive for not registering as a national securities exchange, clearing agency, and broker.
The former CEO was identified as William Shihara, who was also the co-founder of the exchange. The press release further read,
“The SEC also charged Bittrex, Inc.’s foreign affiliate, Bittrex Global GmbH, for failing to register as a national securities exchange in connection with its operation of a single shared order book along with Bittrex.”
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Source: https://ambcrypto.com/breaking-us-sec-takes-action-against-crypto-exchange-bittrex-and-its-former-ceo/