TechFlow news: Last week, cryptocurrency exchange Bittrex agreed to pay $24 million to the U.S. Securities and Exchange Commission (SEC) to settle charges related to unregistered securities offerings.
However, Bittrex Global stated it will not make any payment. In a statement on Wednesday, Bittrex Global clarified that the $24 million will be paid by Bittrex US.
The CEO of Bittrex Global said they are entirely separate from Bittrex US, do not accept U.S. users, and confirmed that customer funds on Bittrex Global remain secure.
Bittrex US has previously filed for bankruptcy. Bittrex Global emphasized it will not participate in paying the settlement funds, noting that the SEC appears to misunderstand the distinction between the two entities. Despite regulatory uncertainties, Bittrex Global will continue expanding its global operations.
