Bittrex's US Subsidiary Will Pay Fees in Settlement With US SEC

08/16 15:00

Cryptocurrency exchange Bittrex has agreed to pay $24 million to the US Securities and Exchange Commission as part of a settlement agreement related to unregistered securities charges. However, the company's global operations have stated that they will not be paying any funds. In a statement on Wednesday, Bittrex Global said that the $24 million will be paid by Bittrex's US branch. King & Spalding partner Andrew Michaelson said, "The reason why this outcome is so unusual and satisfying is because Bittrex Global will be able to put this matter behind it without paying a penny in settlement money. We are very excited about this outcome on behalf of our client."

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