Bittrex Seeks Return of $24M Settlement with SEC Amid Regulatory Shift

Bittrex, a former major U.S.-based cryptocurrency trading platform, has filed a request with a federal court to revisit a 2023 settlement agreement with the U.S. Securities and Exchange Commission (SEC). The company is seeking to recover $24 million it paid as part of the agreement.

The SEC had alleged that Bittrex operated an unregistered securities platform and facilitated trading of crypto assets classified as securities without proper registration. Bittrex agreed to settle the charges in 2023, paying penalties and ceasing certain operations in the U.S. market.

However, with the regulatory landscape in the United States evolving, Bittrex argues that the company is entitled to revisit the settlement agreement due to shifting regulatory attitudes toward the crypto industry. The exchange claims that recent policy changes justify revisiting past enforcement actions and potentially revising the financial penalties imposed.