According to a press release from Bittrex Global, the company does not have to pay to resolve the enforcement action. Andrew Michaelson, legal counsel at Bittrex Global, said: “Our client, Bittrex Global, will put this matter behind us without having to pay any settlement money.”

Linch, CEO of Bittrex Global, added, “While this is great news for Bittrex Global, now is not the time to celebrate victory. Instead, with this matter resolved, we can focus on building our vision for the future of cryptocurrency as a regulated, mature, and sophisticated part of the broader financial ecosystem.”

The Seattle-based exchange filed for Chapter 11 bankruptcy protection in May. Court documents show that Bittrex has more than 100,000 creditors and assets and liabilities estimated to be worth between $500 million and $1 billion.

ChainCatcher previously reported that the U.S. Securities and Exchange Commission (SEC) announced that the crypto exchange Bittrex Inc. and its co-founder and former CEO William Shihara agreed to settle charges that they operated an unregistered national securities exchange, broker, and clearing agency. Bittrex Inc.'s foreign subsidiary Bittrex Global GmbH also agreed to settle charges that it failed to register as a national securities exchange.