US Department of Justice Objects to Bittrex's Customer Repayment Plan

Cryptocurrency trading platform Bittrex is facing $29 million in penalties for violating sanctions regulations and is also under scrutiny by the Securities and Exchange Commission (SEC). The United States Department of Justice (DOJ) has opposed Bittrex's proposal to allow customer withdrawals, arguing that the company's debt to the U.S. Treasury should be given priority. The DOJ claims that the bankruptcy motion filed by Bittrex is premature and aims to establish the possibility of reclaiming cryptocurrency assets from customers. A bankruptcy hearing is set to take place on June 14 to address these issues.