In April, Bittrex exchange was sued by the SEC for operating without the necessary registrations. Following this, in May, Bittrex filed for Chapter 11 bankruptcy, and in August, it announced that it had resolved the issue by reaching a $24 million settlement with the SEC.
Bankruptcy Application Approved by the Court
However, according to today’s news, the process of terminating Bittrex’s activities in the United States was approved by the bankruptcy court as a result of the Chapter 11 bankruptcy protection application it filed in May.
Judge Approves Repayment to Creditors
During the final hearing held in Delaware, Judge Brendan Shannon approved the company’s liquidation plan and repayment to remaining creditors. It was also mentioned in the court documents that the court had decided to introduce a revised Decision Proposal to resolve the SEC’s informal comments.
“If they want to do business with a digital asset exchange not regulated in the United States, Bittrex Global is here.”
Bittrex Global CEO Oliver Linch
