### The United States Securities and Exchange Commission (SEC) continues its crackdown on the crypto industry as it filed a lawsuit against Bittrex. The SEC accuses Bittrex of allowing the trading of unregistered securities and named six cryptocurrencies (DASH, ALGO, OMG, TKN, NGC, and IHT) listed on the platform as securities.

This move comes after Bittrex announced that it would leave the US and cease operations on April 30th, citing regulatory uncertainty as the main reason. However, the SEC's lawsuit against the exchange clearly shows that the regulatory environment for cryptocurrencies in the US is still far from clear.



<blockquote className="twitter-tweet"><p lang="zxx" dir="ltr"><a href="https://t.co/zqh5JHeBXb">pic.twitter.com/zqh5JHeBXb</a></p>— Bittrex (@BittrexExchange) <a href="https://twitter.com/BittrexExchange/status/1648031603099312128?ref_src=twsrc%5Etfw">April 17, 2023</a></blockquote> 



After the lawsuit was made public, the crypto community on Twitter focused on the ties between SEC Chairman Gary Gensler and Algorand, one of the cryptocurrencies named in the lawsuit. Gensler had previously praised the Algorand network as "great technology" that might support a ride-sharing service like Uber. Some critics argue that this raises questions about the impartiality of the SEC's actions against Bittrex.



<blockquote className="twitter-tweet"><p lang="zxx" dir="ltr"><a href="https://t.co/zqh5JHeBXb">pic.twitter.com/zqh5JHeBXb</a></p>— Bittrex (@BittrexExchange) <a href="https://twitter.com/BittrexExchange/status/1648031603099312128?ref_src=twsrc%5Etfw">April 17, 2023</a></blockquote> 



The SEC's lawsuit against Bittrex is just the latest move in the agency's ongoing war on crypto. The SEC has been taking a hardline stance on cryptocurrencies, particularly on the issue of whether they should be classified as securities. This lawsuit serves as a reminder that the regulatory landscape for cryptocurrencies is still very much in flux, and that exchanges and investors alike need to stay informed and vigilant.

The United States Securities and Exchange Commission (SEC) continues its crackdown on the crypto industry as it filed a lawsuit against Bittrex. The SEC accuses Bittrex of allowing the trading of unregistered securities and named six cryptocurrencies (DASH, ALGO, OMG, TKN, NGC, and IHT) listed on the platform as securities.

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