According to Bittrex’s attorneys, the bankrupt cryptocurrency exchange filed a motion this week with a federal court in Seattle to vacate its 2023 settlement with the U.S. Securities and Exchange Commission and order the agency to return the $24 million in penalties paid. The exchange argues that the SEC’s reversal on whether most crypto tokens qualify as securities undermines the legal foundation of the original case.
Since President Donald Trump returned to office, the SEC has reworked its crypto enforcement strategy and dropped or paused most lawsuits filed against major crypto firms during the previous administration. Bittrex’s legal team contends that fairness requires the company to benefit from the same policy shift that has favored competitors. A court decision is expected in the coming months.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
CFTC and SEC Currently Align on Prediction Market Regulatory Boundaries
According to FOX reporter Charles Gasparino, the U.S. CFTC and SEC are currently aligning on regulatory boundaries for prediction markets and recent anomalous trading related to Iran-related conflicts. Gasparino noted that while the industry assumes CFTC has sole jurisdiction, the SEC will
GateNews1h ago
Bank of England Governor Bailey: The UK and US stablecoin rules are about to “square off,” warning that a bank run will come to the UK
Bank of England (BoE) Governor Andrew Bailey warned on May 9 at a meeting hosted by the Bank of England in the UK that the US and the UK are about to enter a “tug-of-war” phase on stablecoin regulation, and that the UK worries it could face bank-run (run-on) risks if it adopts stablecoins. The Block reported on Bailey’s remarks: “We know what happens if stablecoins are subject to a run—they all come here (to the UK),” suggesting that dollar stablecoins promoted by the GENIUS bill in the US, if b
ChainNewsAbmedia1h ago
Senate Banking Committee Sets May 14 Vote on Crypto Legislation
The Senate Banking Committee announced on Friday that it will hold a markup on May 14 to advance a bill that would regulate the cryptocurrency industry comprehensively at the federal level for the first time, according to The Block. This marks the committee's second attempt after cancelling a markup
CryptoFrontier2h ago
SEC Chair Atkins Proposes New Rulemaking for Onchain Markets and Software Applications on Friday
According to SEC Chair Paul Atkins, speaking on Friday at an AI expo hosted by the Special Competitive Studies Project, the Securities and Exchange Commission needs to clarify how its regulatory framework applies to software applications as it considers new rules for onchain financial markets. Atkin
GateNews4h ago
U.S. Senator Warren Sends Letter to Meta Demanding Stablecoin Details by May 20
According to sources, U.S. Senator Elizabeth Warren sent a letter to Meta CEO Mark Zuckerberg requesting detailed information about the company's stablecoin plans by May 20th. Warren cited concerns over Meta's lack of transparency regarding its recent cryptocurrency initiatives, particularly
GateNews4h ago
U.S. Senators Reach Stablecoin Compromise, Boosting Crypto Bill Passage Odds to 60%
According to The Block, U.S. Senators Angela Alsobrooks and Thom Tillis reached a compromise on stablecoin rewards last week, clearing a major hurdle for broader cryptocurrency legislation. The deal blocks "covered parties" from paying interest or yield to U.S. customers solely for holding stablecoi
GateNews6h ago
