S-based cryptocurrency exchange Bittrex says that it is compliant with federal regulations governing securities trading.
The exchange, which is headquartered in Seattle, issued a statement on Wednesday assuring its customers that its token review process is compliant with rules that prohibit companies from creating trading markets for unregistered securities.
“As a U.S.-based digital currency exchange, Bittrex is committed to incubating new blockchain technology projects and offering innovative, compliant digital tokens to our customers. Bittrex uses a robust digital token review process to ensure the tokens listed on the exchange are compliant with U.S. law and are not considered securities.”
The statement was a direct response to an announcement published by the Securities and Exchange Commission (SEC) — also released on Wednesday — that warned it is “potentially unlawful” for cryptocurrency exchanges to list initial coin offering (ICO) tokens, as the agency deems many of these ICOs to be unregistered securities offerings.
Sourced through Scoop.it from: finance.yahoo.com