Just In: US SEC takes action against crypto exchange Bittrex and its former CEO
its decision to wind down its operations in the United States. The reason for this move was cited as “not economically viable for us to continue to operate in the current U.S. regulatory and economic environment.” The exchange is expected to exit the market by the end of this month, i.e., 30th April 2023.Furthermore, in its complaint against the exchange, the SEC claimed that the exchange offered and sold tokens that were securities.
Additionally, the commission alleges that the exchange proceeded to list tokens that it had “recognized had the characteristics of securities”. These tokens were identified as MANA and Powerledger .that Tron and BitTorrent token were securities in its lawsuit against Justin Sun – the creator of Tron, and Tron Foundation. In relation to this case, the commission had also charged eight celebrities for promoting the tokens.
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