Bittrex to Pay $24 Million Settlement for US Regulatory Violations!

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Bittrex, a crypto exchange operator, has agreed to pay $24 million to settle charges that it violated US Securities and Exchange Commission (SEC) rules by servicing American clients without registering with the agency. The settlement involves two entities: Bittrex Inc. and its foreign affiliate, Bittrex International. The SEC found that Bittrex operated an unregistered securities exchange and disregarded anti-money laundering rules. The exchange will also set up a compliance program to prevent future violations. The SEC warned other unregistered cryptocurrency trading platforms that they must register with the agency or face legal consequences.