SEC charges founder of EtherDelta for operating an unregistered exchange

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)

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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

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