Bittrex Global is not required to pay settlement fees to the US SEC.

According to a news release from Bittrex Global on August 16th, the company will not have to pay any fees to settle the enforcement action. Andrew Michaelson, Bittrex Global's legal advisor, said, "Our client Bittrex Global will put this matter behind it without having to pay any settlement money." "While this is good news for Bittrex Global, it is not yet time to celebrate victory. Instead, with this matter resolved, we can focus on building a vision for the future of cryptocurrency, positioning it as a regulated, mature, and complex part of a broader financial ecosystem," added Bittrex Global CEO Linch. The Seattle-based exchange filed for bankruptcy protection under Chapter 11 of the U.S. bankruptcy law in May. Court documents show that Bittrex has over 100,000 creditors, with assets and liabilities estimated to be between $500 million and $1 billion. As previously reported by BlockBeats on August 11th, cryptocurrency exchange Bittrex Inc. and its co-founder and former CEO William Shihara agreed to settle charges of operating an unregistered national securities exchange, broker, and clearing agency, agreeing to pay a total of $24 million in illegal gains, fines, and interest. Bittrex Inc.'s foreign subsidiary, Bittrex Global GmbH, also agreed to settle charges of failing to register as a national securities exchange.