US Justice Department Objects to Bittrex’s Plan To Repay Customers in Bankruptcy Proceedings The US Department of Justice objected
to a proposal by crypto exchange Bittrex to return money to customers as part
of its liquidation plan.
Bittrex filed for bankruptcy
in May in a federal court in Delaware after facing scrutiny from both
the Justice Department and the US Securities and Exchange Commission.
The exchange
shut down US operations earlier this year after it was fined $53 million by the Treasury’s Office of Foreign Assets Control and Finance Crime Enforcement Network after
they said Bittrex failed to prevent customers in Iran, Cuba and other sanctioned nations
from using its platform.
The SEC later charged
Bittrex in April for operating as an unregistered exchange,
broker and clearing agency.