Cryptocurrency exchange Bittrex is seeking to rescind a $24 million settlement with the U.S. Securities and Exchange Commission (SEC) following a shift in the agency's regulatory stance on cryptocurrencies. Bittrex's legal team has filed a motion requesting a federal judge to vacate the previous ruling and compel the SEC to refund the penalty paid in 2023. The exchange had settled with the SEC under the Biden administration over allegations of selling unregistered securities. The SEC, under new leadership, has since revised its approach, stating that most crypto tokens are not securities and dropping similar lawsuits against other crypto firms. Bittrex argues that it should benefit from this regulatory shift, as the SEC's initial legal theory has been acknowledged as incorrect. The exchange's lawyers are urging the court to return the funds before they are distributed to former customers. The SEC has declined to comment on the ongoing case.