WASHINGTON D.C. – According to a Monday press release, the SEC has charged crypto exchange Bittrex and its former CEO, Bill Shihara, with allegedly violating federal statutes by operating as a national securities exchange, broker, and clearing house. 

The SEC claims Bittrex worked with crypto issuers to alter their offering materials by deleting statements that could attract regulator scrutiny. Bittrex is also alleged to have combined multiple market intermediary functions to maximize profits and failed to register as an exchange, clearing house, and broker.

The company published a press release stating, "At no point has the SEC written to us to request any information or documentation at any stage. The Commission authorized filing the lawsuit without ever hearing from us in writing.”