Liechtenstein-based cryptocurrency exchange Bittrex Global has announced its plans to wind down operations, starting with the suspension of trading activity on December 4th. In a recent update on their website, Bittrex Global stated that all users with U.S. dollar holdings must convert their funds to euros or cryptocurrency before December 4th to avoid any issues with withdrawing their assets. The platform will then suspend trading activities on December 4th, allowing only certain withdrawals. Bittrex Global emphasized that this decision was not taken lightly and acknowledged the inconvenience it may cause to their valued customers. They also advised against making any deposits to their platform, as they cannot guarantee the safety of those funds. This announcement comes after Bittrex, the U.S.-based arm of the company, revealed its plans to wind down operations in the country due to regulatory uncertainty. Bittrex filed for Chapter 11 protection in U.S. bankruptcy court in May and settled its case with the U.S. Securities and Exchange Commission (SEC) for $24 million in penalties and interest in August. The SEC had charged Bittrex for operating as an unregistered exchange, broker, and clearing agency. It remains unclear whether the SEC’s actions contributed to Bittrex Global’s decision to wind down its operations.

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Information	Details
Geography	Europe
Countries	🇱🇮 🇺🇸
Sentiment	negative
Relevance Score	1
People	None
Companies	U.S. Securities and Exchange Commission, Delaware bankruptcy court, Bittrex Global, Bittrex
Currencies	None
Securities	None