PANews reported on May 7 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 is demanding the SEC return a $24 million fine. Bittrex was accused by the SEC during the Biden administration of providing unregistered securities trading, ultimately reaching a settlement and paying a fine, before shutting down due to the "current U.S. regulatory and economic environment" making continued operation impossible.

In a recent filing, Bittrex's lawyers argued that the SEC's stance on crypto regulation has fundamentally shifted since the Trump administration took office. The SEC has acknowledged that its previous legal theory of treating most tokens as securities was flawed, its enforcement strategy was flawed from the outset, and it has dropped almost all lawsuits and investigations against crypto companies. Bittrex is requesting a judge to order the return of the funds before the SEC transfers them to the Treasury for restitution. In March of this year, the SEC initiated proceedings to transfer the fine to the Treasury.