SEC Puts Crypto Exchanges On Notice With First Settlement

By Rachel Graf (November 8, 2018, 6:35 PM EST) -- The U.S. Securities and Exchange Commission settled its first-ever enforcement action against an unregistered cryptocurrency exchange Thursday as the agency continues to target a variety of market participants beyond the token issuers themselves.

The SEC had accused Zachary Coburn, founder of the cryptocurrency exchange EtherDelta, of violating federal securities laws by trading digital assets that were considered securities without first registering the exchange with the agency. Almost all of the trades on EtherDelta that the SEC investigated were made after the agency issued The DAO Report last year, which specifically stated non-exempt exchanges must be registered.

By noting 92 percent of...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!