The team of the Bittrex Global cryptocurrency exchange notified users that all trading operations on the site will cease as of December 4.

In an official notice, the exchange said that this was a forced decision, which was due to legal problems that arose in relations with the US Securities and Exchange Commission (SEC), as well as the general deterioration of the regulatory climate in the United States.

“All crypto assets are completely secure and available for withdrawal from the platform at any time. To avoid potential problems, users are strongly advised to log into their account and withdraw assets as soon as possible,” the exchange said in a statement.

The Bittrex Global team emphasized that site users will not be able to directly withdraw assets in US dollars due to restrictive measures by the SEC. Therefore, balances in dollars must first be converted, for example, into euros or cryptocurrency, in order to be able to withdraw smoothly.

Recall that in April, the SEC sued the Bittrex exchange and its former CEO William Shihara, alleging that he operated an unregistered securities exchange. The crypto platform later agreed to pay a fine of $24 million to settle the Commission’s claims.