UTC-05:00,Saturday , February 16th 2019

SEC Charges EtherDelta Founder with Operating an Unregistered Exchange

10:28 Thursday , November 08th 2018
The Securities and Exchange Commission 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.

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