On April 17, 2023, the Securities and Exchange Commission (SEC) accused Bittrex, a Seattle-based exchange
- Bittrex CEO Oliver Linch spoke in an interview regarding the SEC’s charges.
- Linch stated that the SEC was mistaken in charging the exchange.
- Bittrex’s CEO said they have no customers in the US.
On April 17, 2023, the Securities and Exchange Commission (SEC) accused Bittrex, a Seattle-based exchange, of violating securities law by neglecting to register with the financial regulatory agency in various jurisdictions. The charges came at a time when the exchange was already planning to wind up its operations in the US in April.
In one of the recent phone interviews with CoinDesk, Bittrex Chief Executive Officer Oliver Linch said that the SEC was mistaken in charging the exchange.
Bittrex CEO says SEC didn’t give opportunity to explain
During the interview, Linch stated, “We’ve not really seen an explanation as to what the SEC’s thinking is there, why that is of significance.” “Suffice to say, we think that they’re mistaken in the way they conceive of it legally and in terms of facts.”
He also mentioned that Bittrex was unaware of the investigation until they received the preliminary conclusion notice. Linch stated that the company had never claimed to provide services in the United States and that it would strongly uphold its stance that it has no customers in the country.
The action by the SEC against Bittrex is another visible example of the tightened scrutiny of the cryptocurrency realm in the US.