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U.S. securities watchdog charges Zachary Coburn, founder of crypto trading platform EtherDelta, with operating an unregistered exchange. The U.S. Securities and Exchange Commission (SEC) has charged Zachary Coburn, the founder of crypto token trading platform EtherDelta, with operating an unregistered securities exchange, a press release by the SEC reveals Thursday, Nov. 8. EtherDelta, which served as a secondary marketplace for trading ERC20 tokens, allows its users to buy and sell digital assets by means of an order book and smart contracts based on the Ethereum blockchain. According to the SEC, over an 18-month operating period, EtherDelta's users placed more than 3.6 million orders for tokens, including ones that are considered securities by U.S. federal laws. The regulator notes that most of the orders were executed after the DAO report that SEC had released in June 2017. Under the current law, EtherDelta was obliged to register in U.S. or to apply for an exemption; however,..
Financial services giant Fidelity’s former exec joins a blockchain firm as its COO. A former executive at financial services giant Fidelity Investments has been appointed Chief Operating Officer (COO) at blockchain infrastructure firm Bloq, according to a press release Oct. 23. Bloq’s new COO, Hadley Stern, spent seventeen years at Fidelity, which administers over $7.2 trillion in client assets. His most recent role was at the helm of the crypto and blockchain incubator within the company’s innovation lab, Fidelity Labs – overseeing the launch last week of its new crypto-business, Fidelity Digital Assets. Bloq’s co-founder and chairman Matthew Roszak characterized the new appointment as emblematic of the increasing entwinement of the world of “conventional” enterprises and the emerging cryptocurrency sector. In a Medium post published today, entitled “The Tokenization of Things and Building the Unimaginable,” Stern gave his perspective on the history of the new technologies driving an..
As it awaits its Japanese operating license, Coinbase has made positive remarks about the country’s toughened stance towards the crypto industry. As it awaits its Japanese operating license, an executive from leading U.S. crypto exchange Coinbase has made positive remarks about the country’s toughened stance towards the crypto industry. In an interview with financial newspaper Nikkei Asian Review published Oct. 10, Coinbase chief policy officer Mike Lempres said that talks for obtaining the license are "going well" with the country’s top financial watchdog, adding that the regulator’s focus on security is “good for us.” As previously reported, Japan’s Financial Services Authority (FSA), has intensified its scrutiny of crypto exchanges in the wake of January’s industry-record-breaking $532 million hack of domestic crypto exchange Coincheck. The regulator has just recently announced plans to apply yet more rigorous oversight of applications from exchanges hoping to receive an official l..