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 <p class="is-style-lead">Bittrex Global is set to <a rel="noopener noreferrer nofollow" title="cease" href="https://thebittimes.com/tag/cease.html">cease</a> its <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> <a rel="noopener noreferrer nofollow" title="operations" href="https://thebittimes.com/tag/operations.html">operations</a> globally on Dec. 4, following its U.S. arm’s legal settlement with the SEC and an ongoing complex regulatory landscape.</p>
 <p>Bittrex Global has announced the closure of its global operations. The announcement comes shortly after the shutdown of company’s U.S. arm, which faced legal challenges from the U.S. Securities and Exchange Commission (SEC).</p>
 <p>As of Dec. 4, Bittrex Global will <a rel="noopener noreferrer nofollow" title="cease" href="https://thebittimes.com/tag/cease.html">cease</a> all <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> activities, transitioning solely to allowing asset withdrawals for its customers.</p>
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    <p lang="en" dir="ltr">It is with great regret that we inform you that Bittrex Global has decided to wind down its operations. <br><br>Effective Monday 4 December 2023, all trading activity on Bittrex Global will be disabled. After that date, customers will only be able to withdraw assets as part of the…</p>— Bittrex Global (@BittrexGlobal) November 20, 2023
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 <p>The exchange’s decision to not facilitate withdrawals in U.S. dollars, advising customers to convert to either cryptocurrency or euros, is a significant aspect of this winding down process. The stipulation may raise concerns regarding the liquidity and accessibility of funds for users holding assets in different currencies.</p>
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 <p>The background of this development includes Bittrex’s U.S. arm agreeing to a $24 million settlement with the SEC in August, following charges in April that accused the company of operating as an unregistered broker, exchange and clearing agency. Interestingly, Bittrex Global did not contribute to this settlement, despite also being targeted by the SEC.</p>
 <p>Bittrex Global CEO Oliver Linch emphasized the distinction between Bittrex U.S. and Bittrex Global as separate entities. However, the regulatory scrutiny and subsequent legal actions seem to have impacted both branches.</p>
 <p>Bittrex U.S.’s recent emergence from bankruptcy and the court’s approval to sell off its American assets add another layer to the company’s complex financial narrative.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Bittrex secures court approval to wind down US operations
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bittrex-global-ceases-trading-amid-operations-wind-down-tbt70991.html">https://thebittimes.com/bittrex-global-ceases-trading-amid-operations-wind-down-tbt70991.html</a></p>

Bittrex Global ceases trading amid operations wind down

TheBitTimes

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