Cryptocurrency Analysis and News Portal
The United States-based cryptocurrency exchange Bittrex is reportedly facing potential action from the U.S. securities regulators despite preparing to shut down local operations.The enforcement division of the U.S. Securities and Exchange Commission (SEC) is inclined to recommend the agency sue Bittrex over alleged violations related to investor protection, The Wall
Read More
Cryptocurrency exchange Bittrex is shutting down its U.S. operations due to “continued regulatory uncertainty” as U.S. regulators increase their enforcement efforts against cryptocurrency trading platforms. Regulatory requirements currently “are often unclear and enforced without appropriate discussion or input, resulting in an uneven competitive landscape,” Bittrex described. Bittrex Exiting U.S. Crypto Market Cryptocurrency
Read More
Bittrex, one of the oldest cryptocurrency exchanges in the United States, stated on Mar. 31 that it would be shutting down its operations owing to the “regulatory and economic climate” in the nation. While winding down operations in the United States, the official statement claims that customers’ money will continue to
Read More
Cryptocurrency exchange Bittrex has announced it will be winding down its operations in the United States due to the challenging regulatory and economic environment. The announcement was made on the platform's ninth anniversary, marking a bittersweet moment for the company. Due to continued regulatory uncertainty, we have made the difficult decision to
Read More
“It’s just not economically viable for us to continue to operate in the current U.S. regulatory and economic environment,” said Bittrex co-founder and CEO Ritchie Lai in the statement. “Regulatory requirements are often unclear and enforced without appropriate discussion or input, resulting in an uneven competitive landscape,” he continued. “Operating
Read More
Several crypto firms have made job cuts this week amid the ongoing crypto winter, retaining “impactful” employees as they prepare for a “longer downturn.”At least 216 jobs were slashed between three crypto firms – open-source software laboratory Protocol Labs, blockchain data firm Chainalysis and U.S. cryptocurrency exchange Bittrex, with reductions
Read More
CEO Richie Lai cited the “new economic environment” as the primary reason for the cuts. Source
Read More
On October 11, the U.S. Treasury department’s Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) announced that it has settled charges with the cryptocurrency exchange Bittrex. The crypto exchange was accused of sanctions violations and failure to “implement effective sanctions compliance controls” between March 2014
Read More
Bittrex agreed to pay more than $29 million in a
Read More
Between 2014 and late 2017, Bittrex allowed around 1,800 people in sanctioned jurisdictions – including Iran, Cuba, Sudan, Syria and Crimea – to conduct more than 116,000 transactions worth roughly $260 million through its platform, according to the settlement. The Seattle, Washington-based exchange has since taken action to better comply
Read More