At the Intersection of Technology, Law, and Business
November 09, 2018 - Financings, Fintech, Mergers + Acquisitions

First SEC Enforcement Action Against Unregistered Digital Token Exchange

Do You Want to Launch an ICO? Please, Listen to the SEC

Until yesterday, the enforcement actions of the U.S. Securities and Exchange Commission (SEC) in the digital token space have primarily focused on the primary issuances of tokens. However, on November 8, 2018, the SEC announced in an order (the “Order”) that it had settled charges against Zachary Coburn, the founder of the digital token exchange EtherDelta, marking the first time that the SEC has brought an enforcement action against an online digital token platform for operating as an unregistered national securities exchange.

Read our client alert.