CryptoNewsBreaks – US Securities and Exchange Commission Announces Settled Charges with EtherDelta Founder

Company: EtherDelta
Category: News

The U.S. Securities and Exchange Commission (SEC) yesterday announced that it has settled charges against Zachary Coburn, founder of digital token trading platform EtherDelta. An order from the SEC found that Coburn caused EtherDelta, a secondary trading market for ERC20 tokens, to operate as an unregistered national securities exchange. Per the update, EtherDelta’s users executed more than 3.6 million orders for ERC20 tokens over an 18-month period, including tokens that are securities under federal securities laws. “EtherDelta had both the user interface and underlying functionality of an online national securities exchange and was required to register with the SEC or qualify for an exemption,” Stephanie Avakian, co-director of the SEC’s Enforcement Division, stated in the news release. Without admitting or denying the findings, Coburn consented to the order and agreed to pay $300,000 in disgorgement plus $13,000 in prejudgment interest and a $75,000 penalty.

To view the full press release, visit http://ccw.fm/cV0VU

About EtherDelta

EtherDelta is a cryptocurrency exchange built specifically for ERC20 token and Ethereum trading pairs. The exchange runs on Ethereum-powered smart contracts that are responsible for managing trading, deposits, withdrawals and wallet integration. For more information, visit the company’s website at www.EtherDelta.com

More from CryptoNewsBreaks

About CryptoCurrency Wire (“CCW”)

CryptoCurrency Wire (CCW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with CCW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled visibility, recognition and brand awareness.

To receive instant SMS alerts, text CRYPTO to 888-902-4192 (U.S. Mobile Phones Only)

CryptoCurrency News Wire is where News, content and information converge via Crypto.

For more information, please visit https://www.cryptocurrencywire.com

Please see full terms of use and disclaimers on the CryptoCurrency Wire (CCW) website applicable to all content provided by CCW, wherever published or re-published: http://CCW.fm/Disclaimer

CryptoCurrency Wire (CCW)
New York, New York
www.cryptocurrencywire.com
212.994.9818 Office
Editor@CryptoCurrencyWire.com

Official NewsWire Relationships

Anarchapulco Main Event Blockchain Africa Conference Blockchain Futurist Conference Blockchain Life Conference Blockchain Shift Coingenius Coinvention CryptoBlockCon CryptoFest European Blockchain Convention EVOLV - evolve.events Finovate nftexpoverse Paris Blockchain Week The North American Bitcoin Conference Virtual Blockchain Week The Voice of Blockchain World Crypto Conference

CryptoCurrencyWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Doge Coin

Dogecoin

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 212.994.9818