Liechtenstein-based Bittrex Global today announced it will wind down operations, ceasing all trading on its exchange by December 4.

The move follows a series of regulatory challenges that have hindered the crypto exchange, including the closure of its U.S. operations earlier this year. In March, Bittrex shuttered its U.S. exchange because it was not “economically viable” to continue doing business following a lawsuit and $29 million settlement with the SEC over alleged securities laws violations.

“It is with great regret that we announce that Bittrex Global has decided to wind down its operations,” the company tweeted today. After December 4, “customers will only be able to withdraw assets as part of the winding down process. All our customers are strongly encouraged to log into their account and withdraw assets as soon as possible,” its statement read.

Back in March, Bittrex co-founder and CEO Richie Lai expressed concerns over the current regulatory environment surrounding crypto. “Regulatory requirements are often unclear and enforced without appropriate discussion or input, resulting in an uneven competitive landscape,” he said in a statement at the time.

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Author: Jose Antonio Lanz

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