According to a new court motion, Bittrex is trying to undo its $24 million Securities and Exchange Commission settlement after the regulator retreated from the crypto enforcement theory used against the exchange.
Bittrex has asked a U.S. federal court to overturn its 2023 settlement with the Securities and Exchange Commission and recover $24 million, arguing that the regulator has since abandoned the crypto enforcement approach it used against the exchange under the Biden administration. The request builds on Bittrex’s earlier effort to unwind the deal tied to allegations that it operated an unregistered securities trading platform. The new motion centers on Bittrex’s claim that the Securities and Exchange Commission’s later policy shift undermines the basis for the settlement.