Bittrex Sued By The SEC (SECURITIES: ALGO, OMG, DASH, TKN, NGC, IHT)
6 Coins = Securities
By: Aleksandar Gilbert •DeFi Videos
Hello and happy Monday. This will come as no surprise to anyone who’s followed industry news this year, but the SEC’s war on crypto shows no signs of letting up. This morning, the United States’ top financial regulator sued crypto exchange Bittrex, just two weeks after the company said it would leave the country due to the “current … regulatory and economic environment.”
The SEC alleges Bittrex sold unregistered securities such as Algorand’s ALGO token, OMG, DASH, TKN, NGC and IHT. Those tokens should be considered securities because the people who bought them “invested in a common enterprise” and had a “reasonable expectation of profit based on the efforts of others, according to the SEC.