Major Crypto Exchange Announces Zero Trading Fees for XRP, DOGE, ADA: Here are the Details
Seattle-based crypto exchange Bittrex is offering zero trading fees on its USDT markets, including BTC, ETH, ADA, DOGE, and XRP. This move comes despite the fact that the Securities and Exchange Commission (SEC) has labeled both Cardano (ADA) and XRP as “securities” in past lawsuits. Bittrex is expanding its support for these cryptocurrencies and has filed a motion to dismiss the SEC’s complaint against the exchange and its co-founder William Shihara. The SEC charged Bittrex with running an unregistered national securities exchange, broker, and clearing agency. Bittrex argues that crypto assets traded on secondary markets are not securities and that the SEC lacks authority in this area.
The SEC’s lawsuits against Ripple, Binance, and Coinbase have sparked concerns about regulatory overreach in the crypto industry. Bittrex’s decision to fight back against the SEC’s complaint has been commended by a legal expert on Twitter, who sees it as a positive step against the SEC’s alleged regulatory overreach. Bittrex’s refusal to agree to a speedy settlement, which the SEC would have touted as a “win,” shows the exchange’s determination to defend itself and its support for ADA and XRP.
The offer of zero trading fees on Bittrex’s USDT markets is likely to attract traders who want to take advantage of the cost savings. It also demonstrates the exchange’s commitment to providing a competitive and attractive trading environment for users. By expanding support for ADA and XRP, Bittrex is standing up against the SEC’s labeling of these cryptocurrencies as securities. This move could be seen as a show of solidarity with other crypto platforms that have delisted or decreased their support for ADA and XRP following the SEC’s lawsuits. Bittrex’s motion to dismiss the SEC’s complaint will be closely watched by industry participants who are concerned about the broader implications of the SEC’s actions.