SEC Shuts Down EtherDelta: Is It a New Scam?

The US Securities and Exchange Commission accused the founder of the cryptocurrency exchange EtherDelta Zachary Coburn of running an unregistered, and thus illegal trading platform.

According to the Commission, EtherDelta failed to either register the exchange officially in compliance with SEC’s regulations or apply for an exemption from these regulations. This fact makes all of its trading transactions illegitimate.

Coburn denied all of the accusation, nevertheless, he did pay a huge fine of almost 400 thousand dollars.

Meanwhile, SEC claimed that many more exchanges and trading platforms might follow EtherDelta unless they comply with all the rules. We remind you:

More Than a Dozen Fraud ICOs Were Shut Down by the SEC in 2018

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