Etherdelta Charged with Operating Unregistered Exchange
2018年11月9日 - 2:49AM
ADVFN Crypto NewsWire
Bitcoin Global News (BGN)
November 08, 2018 -- ADVFN Crypto NewsWire -- Is the crackdown on
all Crypto exchanges that we have been dreading with bated breath
finally on the horizon? According to a piece just released a few
hours ago by Coindesk, Zachary Coburn, the founder of EtherDelta,
has been charged by the SEC with operating an unregistered
securities exchange. Upon reading the specifics of these charges
via Coindesk, several points on the subject seem to become
clear.
First amongst these points is the
idea that there is a way to tell if a Crypto exchange is offering
securities, based on its features. Reportedly, the regulators in
charge of the investigation cited the facts that EtherDelta has an
order book, an order display website, and an Ethereum smart
contract as some of the reasons for their decision. Furthermore,
the overarching reason for these charges appeared to be that the
SEC felt that EtherDelta was clearly a secondary market for ERC-20
tokens.
If this is actually the case, then
we could probably extrapolate the idea that they believe ERC-20
tokens are all securities. On the other hand, if this was true,
then the Ethereum network would reasonably already have been given
the same designation. Therefore, it appears it would be more
reasonable to say that Crypto exchanges are only unregistered
securities offerings if they meet all of these criteria at
once.
Until the SEC confirms this
hypothesis of sorts, it will remain up in the air either way. One
way to further clear the situation up might be to cite a quote from
the SEC, which states that it was able to prove that some tokens
which are securities were being traded on EtherDelta. If we were
all clued in on what these tokens were, then it might be crystal
clear what exact Crypto networks are already classified as
securities.
For now, exercise caution in doing
business with Crypto exchanges that are unregulated, until all of
this is better illuminated. In terms of EtherDelta, the website
already appears to be down.
By: BGN Editorial Staff
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