According to CoinDesk, the SEC is charging the founder of EtherDelta, Zachary Coburn, with operating an unregistered exchange. EtherDelta is a decentralized exchange for trading ERC20 tokens. According to the SEC, it is the agency’s “first enforcement action based on findings that such a platform operated as an unregistered national securities exchange.” Furthermore, the SEC states that EtherDelta “has executed more than 3.6 million orders … including tokens that are securities under the federal securities laws” over the past 18 months. Zachary Coburn agreed to pay $300K in disgorgement plus $13K in prejudgment interest and a $75K penalty, without admitting or denying the SEC’s findings. (Source: CoinDesk)
The post SEC charges founder of EtherDelta for operating an unregistered exchange appeared first on The Block.
SEC charges founder of EtherDelta for operating an unregistered exchange written by Steven Zheng @ https://www.theblockcrypto.com/tiny/sec-charges-founder-of-etherdelta/ November 8, 2018 Steven Zheng