After receiving court approval, cryptocurrency exchange Bittrex can move forward with its revised bankruptcy plan for winding down its operations in the United States.
According to a court filing, the plan was approved by Judge Brendan Shannon at a hearing in Delaware on Monday, allowing the company to repay its remaining creditors.
The filing also noted that the court had resolved any informal comments from the Securities and Exchange Commission (SEC), which had charged Bittrex with operating without proper registration.
Bittrex initially filed for Chapter 11 bankruptcy protection in May, after facing legal action from the SEC.
In August, the company reached a settlement with the SEC for $24 million. While its U.S. operations have been shut down, Bittrex Global is still operating in other regions.
CEO Oliver Linch reassured clients concerned about regulatory uncertainty in the U.S. in August, stating that Bittrex Global is available to serve those who wish to do business with a non-US regulated digital assets exchange.
At one point, Bittrex was a major player in the U.S. exchange market, holding nearly 23% of the market share in 2018.
