Monday , April 12 2021

Etherdelta replacement was punished by DIP



Etherdelta replacement was punished by DIP

DIP he announced On November 8, 2018, he concluded an investigation into the "decentralized" platform for trading the digital token EtherDelta.

In the statement he stated that he was the founder EtherDelta, Zachary Coburn, did not register the stock market as a national stock exchange, despite the fact that customers were allowed to exchange tokens that are considered securities under US law. UU.

The ad said:

"According to SEC, EtherDelta is an online platform for the secondary market ERC20 tags, a type of token based on a blockchain commonly issued in Bids Initials Coins (ICO). The order found that Coburn caused EtherDelta to work as an unregistered domestic stock market. "

Coburn, who accepted the charges, was fined $ 75,000, $ 300,000 for separating, and $ 13,000 in the interests of prejudice. This sentence was less serious, given that Coburn decided to cooperate with the securities regulator.

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In research focusing on the commercial period that began between July 2016 and December 2017, the SEC found that trade facilitated trade with more than 3.6 million orders, most of which was the purchase and sale of ERC20 tokens , which support the composition of the majority of tokens used in the Initial Coin Offer (ICO).

Specifically, the investigation noted the notorious DAO attack that occurred shortly after ICO concluded in July 2016.

"The investigation has raised questions about the application of the U.S. U.S. Law on Allocation of Trademarks and Sells DAOs, including the issue of thresholds if DAOs are the value of the value. On the basis of the investigation and the facts presented, the Commission has determined that the DAO Securities The Securities Act of 1933 (Securities Act) and the Securities Act of 1934 (the "Exchange Act"). ")".

Removing Etherdelta will be considered in a way that DIP can set an example for other "decentralized" exchanges to be reformed and licensed to work.

The DIP has not yet published the official rules and guidelines for the work of the ICO and other bids Tokens, but this example is an indication that DIP has found a way to go after the so-called "decentralized" exchange but has a central team responsible for exchange work.


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