1. **#SEC Settlement with Bittrex:** The U.S. SEC has reached a settlement with cryptocurrency trading platform Bittrex and its former #CEO William Shihara for operating an unregistered exchange. The settlement entails payments totaling $24 million.
2. **#Payment Breakdown:** Bittrex and Bittrex Global will pay $14.4 million in disgorgement, $4 million in prejudgment interest, and $5.6 million in civil penalties, pending court approval. The SEC accused them of collaborating with token issuers to manipulate online statements and evade securities laws.
3. **Shihara's Perspective and SEC Actions:** Shihara, the former CEO, views the #settlement as a positive outcome that balances innovation, entrepreneurship, and consumer protection. The SEC's complaint alleged Bittrex operated unregistered securities exchanges, brokers, and clearing agencies. The agency also targeted Bittrex Global separately and previously pursued actions against Bittrex, resulting in a $29-million settlement. The SEC's approach to crypto regulation through enforcement has faced criticism, given pending cases involving major #crypto firms and its impact on the industry and lawmakers.
