SEC Charges EtherDelta Founder With Running 'Unregistered Securities Exchange'
The U.S. Securities and Exchange Commission (SEC) has charged Zachary Coburn, the founder of crypto token trading platform EtherDelta, with operating an unregistered securities exchange. The regulator announced Thursday that EtherDelta, which acts as a secondary market for trading ERC-20 tokens, had been providing a marketplace for buyers and sellers to trade the ethereum tokens using an order book, an order display website and a smart contract built on ethereum, according to a press release. "EtherDelta's smart contract was coded to validate the order messages, confirm the terms and conditions of orders, execute paired ... (full story)
SEC Charges EtherDelta Founder With Operating an Unregistered Exchange
The Securities and Exchange Commission today announced settled charges against Zachary Coburn, the founder of EtherDelta, a digital "token" trading platform. This is the SEC's first enforcement action based on findings that such a platform operated as an unregistered national securities exchange. According to the SEC's order, EtherDelta is an online platform for secondary market trading of ERC20 tokens, a type of blockchain-based token commonly issued in Initial Coin Offerings (ICOs). The order found that Coburn caused EtherDelta to operate as an unregistered national securities exchange. EtherDelta provided a marketplace ... (full story)
- Posted: Nov 8, 2018 11:04am
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