Bittrex has asked the court to overturn its settlement agreement with the SEC and is seeking to recover the $24 million fine.

CoinFeed reported on May 7th that, according to Decrypt, the now-closed cryptocurrency exchange Bittrex has filed a petition with a federal judge to overturn its 2023 settlement agreement with the U.S. Securities and Exchange Commission (SEC) and demand the SEC return a $24 million fine. Bittrex was accused by the SEC during the Biden administration of offering unregistered securities trading. It reached a settlement and paid a fine, subsequently closing due to the inability to continue operating under the "current U.S. regulatory and economic environment." In its latest filing, Bittrex's lawyers argued that the SEC's stance on cryptocurrency regulation has fundamentally changed since the Trump administration took office, acknowledging that its previous legal theory of treating most tokens as securities was flawed, its enforcement strategy was flawed from the outset, and that it has dropped almost all lawsuits and investigations against cryptocurrency companies. Bittrex is requesting the judge to order the return of the funds before the SEC transfers them to the Treasury Department for restitution.