The Securities and Exchange Commission had its Wheaties this morning—so buckle up. Crypto exchange Bittrex went from Wells notice to actual SEC charges in no time. Bittrex and CEO William Shihara have been charged with operating an unregistered securities exchange. “Today’s action, yet again, makes plain that the crypto markets suffer from a lack of regulatory compliance, not a lack of regulatory clarity,” SEC Chair Gary Gensler said in a statement. Meanwhile, there’s an effort underway to have Gensler removed.
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