Zachary Coburn, the founder of EtherDelta — a decentralized trading platform for ether (ETH) and Ethereum-based tokens — has been charged with operating an unregistered national securities exchange.
The exchange is known for being among the first to list new ERC20 tokens, and currently has over 240 tokens available on its platform. Having a rather clunky and unwieldy interface, EtherDelta was popular among more experienced cryptocurrency traders due to the sheer variety of digital assets on offer.
According to a press release from the U.S. Securities and Exchange Commission (SEC) released today, the decentralized exchange (DEX) facilitated the trading of what the SEC considers to be security tokens under federal law.
However, the founder did not register for a license with the SEC, nor was the exchange operating pursuant to an exemption.

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Daniel Phillips
After obtaining a Masters degree in Regenerative Medicine, Daniel pivoted to the frontier field of blockchain technology, where he began to absorb anything and everything he could on the subject. Daniel has been bullish on Bitcoin since before it was cool, and continues to be so despite any evidence to the contrary. Nowadays, Daniel works in the blockchain space full time, as both a copywriter and blockchain marketer.
After obtaining a Masters degree in Regenerative Medicine, Daniel pivoted to the frontier field of blockchain technology, where he began to absorb anything and everything he could on the subject. Daniel has been bullish on Bitcoin since before it was cool, and continues to be so despite any evidence to the contrary. Nowadays, Daniel works in the blockchain space full time, as both a copywriter and blockchain marketer.
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