Bittrex
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A US court has agreed to wrap up Bittrex’s bankruptcy plans several months after the exchange made the decision to wind down operations in the States
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Exchange’s bankrupt US arm is responsible for the $24 million settlement amount while its foreign affiliate acts only as a “second-line guarantor,” Bittrex Global says
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Bittrex declared bankruptcy back in May, a month after the SEC filed its lawsuit against the crypto exchange
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Paradigm issued another letter in support of a crypto exchange being targeted by the SEC
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Bittrex says the SEC lacks “clear congressional authorization” required to apply securities laws to tokens
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The court’s decision follows opposition by the US Department of Justice, which argued that Bittrex’s request for withdrawals was premature
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The US government is opposing a motion from Bittrex to return customer funds — at least for now
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The Bittrex bankruptcy has revealed the Treasury’s Office of Foreign Assets Control as the crypto exchange’s largest creditor
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“As an industry, as a company, we’d much rather have clear rules that say what we can’t do than the uncertainty and the fog associated with simply not knowing what to do,” Linch told Blockworks
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The SEC’s approach to regulation via enforcement will have a ‘chilling effect’ on US crypto firms, Bittrex said Monday
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The decision is based on the “sad reality” of lawmakers in the country “seemingly committed to extinguishing the industry,” according to the Bittrex CEO
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The exchange allowed users in the Crimea region of Ukraine, as well as Cuba, Iran, Sudan and Syria to trade cryptoassets despite these being subject to US sanctions
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The Series B round, led by Pantera Capital, raises the company’s valuation to $240 million
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