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XRP, Cardano (ADA) and Dogecoin (DOGE) traders can enjoy zero trading fees on Seattle-based crypto exchange Bittrex. This applies to the USDT trading pairs.
In a tweet, Bittrex makes it known that traders can take advantage of zero trading fees on its USDT markets, including BTC, ETH, ADA, DOGE and XRP.
Notable is the fact that Bittrex has chosen to expand support for Cardano and XRP, which the SEC labeled "securities" in past lawsuits.
In December 2020, the SEC filed a lawsuit against Ripple and two of its executives, alleging that the sales of XRP constituted unregistered securities. In June, the SEC launched lawsuits against the two biggest crypto exchanges, Binance and Coinbase. Cardano's ADA was labeled "security" in both lawsuits.
Following these incidents, a few crypto platforms have taken steps to delist or decrease their support for the two cryptocurrencies.
Bittrex fights back
Bittrex and its co-founder William Shihara have filed motions to dismiss the SEC's complaint, which a legal expert describes as "good news" for anyone concerned about the SEC's regulatory overreach.
The Securities and Exchange Commission (SEC) charged Bittrex and its co-founder and former CEO William Shihara with running an unregistered national securities exchange, broker and clearing agency in April of this year. According to the SEC, Bittrex has held itself out as a platform that facilitates the buying and trading of crypto assets that were allegedly offered and sold as securities since at least 2014.
SEC v @BittrexUS litigation update.— MetaLawMan (@MetaLawMan) July 1, 2023
Earlier today, @BittrexUS (the U.S. exchange), @BittrexGlobal and William Shihara (Bittrex founder) filed motions to dismiss the SEC's complaint.
This is good news for anyone concerned about the SEC's regulatory overreach.
A legal expert who goes by the name "MetaLawMan" on Twitter has commended Bittrex for not caving in and agreeing to a speedy settlement, which the SEC would have touted as another "win."
Bittrex, on the other hand, is fighting back by filing a motion to dismiss. It makes two arguments: first, that crypto assets traded on secondary markets are not securities, and second, that the SEC lacks authority in this area under the Major Questions Doctrine.