The Securities and Exchange Commission (SEC) has charged Bittrex, one of the largest crypto exchanges in the US, and its former CEO William Shihara with operating an unregistered securities exchange. According to the SEC, Bittrex earned at least $1.3 billion in revenue between 2017 and 2022 while offering broker, exchange, and clearing agency services without registering with the Commission. The SEC also claims that Shihara instructed potential issuers to delete “problematic statements” that could attract regulatory scrutiny.
