Overview
- Bittrex filed a motion in federal court to vacate its 2023 judgment and force a refund of the $24 million it paid, and the dispute now awaits a judge’s decision as the SEC has declined to comment.
- The company argues the regulator has reversed course by saying most digital tokens are not securities and by dropping nearly all similar crypto cases.
- Court records show the SEC sought in March to send the $24 million to the U.S. Treasury for distribution to former Bittrex customers, and the motion asks the judge to stop that transfer and return the money to the company.
- Bittrex shut down operations after the 2023 settlement, and in 2022 it agreed to pay about $29 million to the Treasury over apparent sanctions violations tied to countries including Iran, Cuba, and Syria.
- A ruling could signal whether shifts in enforcement policy are enough to unwind past crypto settlements, which might prompt other firms to challenge earlier deals.