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Exchange of Cryptocurrency in the United States Bittrex says that it complies with federal regulations governing securities trading.
The Seattle-based stock exchange on Wednesday released a statement assuring its customers that its symbolic review process complies with the rules that prohibit companies from creating trading markets for non-registered securities .
"As a US-based digital currency exchange, Bittrex is committed to incubating new blockchain technology projects and delivering innovative and compliant digital tokens to our customers. Bittrex uses a robust process of reviewing digital tokens to ensure that the chips listed on the stock exchange are in compliance with US law and are not considered securities. "
The statement was a direct response to an announcement issued by the Securities and Exchange Commission (SEC) – also released Wednesday – which warned that it was "potentially illegal" for cryptocurrency trading to list tokens Initial Offer of Parts (ICO), as the agency considers that many of these country offices are unregistered securities offers.
The agency reported that it intends to crack down on cryptocurrency trading platforms that list security tokens, a move that appears to be an attempt to coax trade to register with the SEC, which would give regulators more power to oversee nascent cryptocurrency. cash markets.
Most exchanges are currently authorized at the state level as "money emitters," and US regulators have expressed their desire to put more federal oversight in place.
Responding to the SEC's warning, Bittrex noted that, as part of its registration process, a qualified US law firm requires a memorandum or opinion that "Constitutes the factual and legal basis". under applicable securities laws "and trademark transactions" would not be subject to regulation under applicable laws applicable to trade in goods. "
"Bittrex is committed to advancing the global leadership of the United States in this emerging industry, and we look forward to continuing our proactive dialogue with the SEC and other regulators on how to build a secure and secure environment. fully regulated for blockchain, encourages innovation and economic growth, "the firm concluded.
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