Bittrex Seeks to Reclaim $24 Million from SEC Amid Shift in Crypto Stance

Bittrex is attempting to reverse a $24 million settlement with the SEC, arguing that the agency's shift in stance on crypto under the Trump administration makes the original case unfair.

The company settled with the SEC in 2023, paying $14.4 million in alleged profits and interest, plus a penalty, after being sued for running an unregistered securities exchange, broker, and clearing agency.

Under the Biden administration, the SEC took a tougher stance on crypto, but the current leadership has dropped similar lawsuits and acknowledged that its enforcement strategy was misguided.

Bittrex's lawyers argue that it would be unfair to keep the settlement in place given the change in circumstances, and are seeking to have the judge vacate the old judgment and order the SEC to return the $24 million.