Bittrex Global CEO Claims Accusations of SEC Violations Are Wrong
According to reports, Oliver Lynch, CEO of Bittrex Global, stated in an interview that accusing the cryptocurrency exchange Bittrex Global GmbH of violating local securities laws b
According to reports, Oliver Lynch, CEO of Bittrex Global, stated in an interview that accusing the cryptocurrency exchange Bittrex Global GmbH of violating local securities laws by the US Securities and Exchange Commission (SEC) was “wrong”. Linch stated that Bittrex Global did not know that it was the subject of an SEC investigation until it received notification that the SEC had “reached a preliminary conclusion”. He added that regulatory authorities did not give Bittrex Global the opportunity to ‘explain the facts’. In addition, Linch claims that the company “never claimed to provide services in the United States” and will vigorously defend its position that it has no customers in the United States. In addition, he also stated that the closure of Bittrex does not affect Bittrex Global’s global operations. “Bittrex is a completely independent legal entity that only provides services in the United States and only provides services to customers in the United States. Global continues to provide services to customers in other regions of the world as usual,” he said
Bittrex Global CEO: The company will defend against SEC charges
Introduction
Oliver Lynch, CEO of Bittrex Global, recently addressed accusations made by the US Securities and Exchange Commission (SEC) regarding the exchange’s alleged violation of local securities laws. In an interview, Lynch claimed that the accusations were “wrong” and that Bittrex Global did not know it was under investigation until it received a notification of the SEC’s preliminary conclusion.
Background
Bittrex Global is a cryptocurrency exchange that was founded in 2019 as a European entity. The exchange has faced significant regulatory challenges in the past, including the suspension of its New York operating license by the New York State Department of Financial Services. The SEC’s accusations represent another hurdle for the exchange, which has now vowed to defend its position.
Lack of Opportunity to Explain
Lynch expressed his concern that Bittrex Global was not given an opportunity to explain its position to regulatory authorities. He stated that the investigation was conducted without the company’s knowledge, and that the SEC made a preliminary conclusion without first consulting with the exchange. According to Lynch, Bittrex Global was not given the chance to present its side of the story.
No Claims of Serving US Customers
Lynch also made it clear that Bittrex Global has never claimed to provide services in the United States. Lynch emphasized that the exchange only serves customers in other regions of the world as usual, and that Bittrex, the US entity, is a completely separate legal entity. Therefore, Lynch stated that the closure of Bittrex would not affect Bittrex Global’s global operations.
Defending Bittrex Global’s Position
With regards to the SEC’s accusations, Lynch stated that Bittrex Global will vigorously defend its position that it has no customers in the United States. He said that the exchange will continue to cooperate with regulatory authorities and work to demonstrate its compliance with all applicable laws and regulations. Lynch and his team view the SEC’s accusations as a challenge to be overcome, and not a death knell.
Conclusion
Bittrex Global CEO Oliver Lynch has stated that the exchange’s alleged violations of local securities laws by the SEC were “wrong”, and that the company was not given the opportunity to explain its position to regulatory authorities. Lynch emphasized that Bittrex Global has never claimed to provide services to US customers and that Bittrex, the US entity, is a separate legal entity. Bittrex Global will continue to provide services to customers outside of the US and work to demonstrate its compliance with all laws and regulations.
FAQs
1. What is Bittrex Global?
Bittrex Global is a cryptocurrency exchange founded in 2019 as a European entity.
2. What accusations were made against Bittrex Global by the SEC?
The SEC accused Bittrex Global of violating local securities laws.
3. Is Bittrex Global affected by the closure of Bittrex?
No, Bittrex Global is a separate legal entity that provides services to customers outside of the US. The closure of Bittrex does not affect Bittrex Global’s global operations.
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