In the first case of its kind, the Securities and Exchange Commission (SEC) announced an enforcement action related to EtherDelta, a decentralized digital asset trading platform that the SEC found operated as an unregistered national securities exchange. The enforcement action was brought against Zachary Coburn (Founder) of EtherDelta, rather than against any entity.
Additional contributors to this post:
Geoffrey F. Aronow, GARONOW@SIDLEY.COM
Verity A. Van Tassel Richards, VVANTASSELRICHARDS@SIDLEY.COM