Crypto exchange Bittrex has settled with the U.S. Securities and Exchange Commission (SEC) for $24 million, after the agency charged it in April for operating as an unregistered exchange.
The exchange, its foreign affiliate and former CEO William Shihara did not admit or deny allegations, according to a court documents. Bittrex's foreign subsidiary, Bittrex Global GmbH, agreed to settle charges that it failed to register as a national securities exchange, the SEC said in a statement.
Bittrex filed for Chapter 11 bankruptcy protection in May, when the company said its assets and liabilities were estimated to be worth between $500 million and $1 billion.
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