Crypto exchange Bittrex has filed a motion to dismiss a lawsuit brought against it by the U.S. Securities and Exchange Commission (SEC), arguing that the SEC does not have the necessary authority to regulate cryptocurrencies as securities unless expressly granted by Congress. In addition, Bittrex stated that the company has ended its business in the United States, fully repaid all customers who submitted detailed redemption applications, and entered bankruptcy proceedings. The SEC is pursuing purely registration-based charges against a company that is no longer in operation and has not faced fraud charges. Foresight News previously reported that in April, the U.S. Securities and Exchange Commission (SEC) filed charges against Bittrex and its co-founder William Shihara for operating an unregistered exchange, brokerage, and clearinghouse.