<\/p>\n
Bittrex Global CEO Oliver Linch noted that market participants are increasingly wary of the United States because of the regulatory uncertainty surrounding the crypto industry in the country, according to an Aug. 16 statement shared with CryptoSlate<\/em>.<\/p>\n Linch stated that his exchange made substantial investments to ensure it does not accept U.S. customers because of the regulatory environment.<\/p>\n Since the beginning of the year, U.S. financial regulators have increased their scrutiny of the crypto industry, with the SEC and CFTC filing legal actions against several crypto-related firms for federal law violations.<\/p>\n The financial watchdogs have filed legal actions<\/a> against several crypto-related firms over violations of federal laws. Concurrently, a jurisdictional dispute<\/a> is brewing between the two agencies, further complicating the oversight of this burgeoning sector.<\/p>\n These uncertainties have led to increased calls<\/a> for the U.S. Congress to introduce legislation that adequately addresses the regulatory vacuum in the industry. However, SEC chairman Gary Gensler has maintained<\/a> that current laws adequately govern the space.<\/p>\n To circumvent the issues, the CEO revealed that Bittrex Global was regulated in two leading jurisdictions, Liechtenstein and Bermuda, and advised investors looking to do business with a non-U.S. regulated digital assets exchange to consider his firm.<\/p>\n Bittrex U.S. subsidiary filed for bankruptcy<\/a> in May after the SEC alleged<\/a> that the crypto exchange operated as an unregistered national securities exchange, broker, and clearing agency, among other allegations.<\/p>\n Last week, the SEC reached<\/a> a $24 million settlement with Bittrex and its former CEO,\u00a0William Shihara<\/a>. The exchange did not admit nor deny any of the SEC\u2019s allegations brought against it.<\/p>\n CEO Linch expressed satisfaction at the firm\u2019s quick settlement with the SEC. He said the quick closure of the case would give the firm an opportunity to build a future \u201cas a regulated, mature, and sophisticated part of the wider financial ecosystem.\u201d<\/p>\n Meanwhile, the press statement clarified that the bankrupt U.S. subsidiary paid the settlement, not its international arm, Bittrex Global.<\/p>\n The post Bittrex bypasses US clients amid regulatory haze, CEO highlights global scope<\/a> appeared first on CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Bittrex Global CEO Oliver Linch noted that market participants are increasingly wary of the United States because of the regulatory uncertainty surrounding the crypto industry in the country, according to an Aug. 16 statement shared with CryptoSlate. Bittrex steers clear of US users Linch stated that his exchange made substantial investments to ensure it does […]<\/p>\n","protected":false},"author":2,"featured_media":138020,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-138019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138019","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=138019"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138019\/revisions"}],"predecessor-version":[{"id":138021,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138019\/revisions\/138021"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/138020"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=138019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bittrex steers clear of US users<\/h2>\n
On Bittrex, SEC case<\/h2>\n