Did Bittrex fail to register as a National Securities Exchange?

Could you please clarify if Bittrex, a popular cryptocurrency exchange, has indeed failed to register itself as a National Securities Exchange in accordance with the relevant regulations? If so, what are the potential implications of this failure on its operations, users, and the broader cryptocurrency market? Additionally, what steps has Bittrex taken, or is planning to take, to address this issue and ensure compliance with the law?