During the boom, I was really glad that ED was around when I wanted to make large buys because it eliminated counter-party risk. With regular exchanges it was common to have withdrawals halted or have deposits not show up for hours with no support, if they showed up t all. Eventually they couldn't handle the volume and it fell apart but when it worked it was a godsend
SEC settles with EtherDelta founder for running an unlicensed exchange [pdf]
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Re: SEC settles with EtherDelta founder for running an unlicensed exchange [pdf]
#12If you want to part fools from their money, you better go into alternative medicine, that's far less of a legal risk.
Re: SEC settles with EtherDelta founder for running an unlicensed exchange [pdf]
#13Does anyone have a good high level summary of the complaint the SEC made? How does one avoid those type of accusations while being involved in the crypto space?
Re: SEC settles with EtherDelta founder for running an unlicensed exchange [pdf]
#14I am no libertarian, but this feels thoroughly unfair on a human level. EtherDelta was a noble pursuit in my book - it was useful, entrepreneurial and did not exploit anybody.
Re: SEC settles with EtherDelta founder for running an unlicensed exchange [pdf]
#15This is why coinbase bought a broker dealer. And this is why you'll see a lot more BDs being setup to properly clear crypto trading.
BDs? What does that mean?
Re: SEC settles with EtherDelta founder for running an unlicensed exchange [pdf]
#16Does anyone have a good high level summary of the complaint the SEC made? How does one avoid those type of accusations while being involved in the crypto space?
The "Summary" section in the PDF gives a pretty concise and straight-forward overview.
Re: SEC settles with EtherDelta founder for running an unlicensed exchange [pdf]
#17I am no libertarian, but this feels thoroughly unfair on a human level. EtherDelta was a noble pursuit in my book - it was useful, entrepreneurial and did not exploit anybody.
Yes, I'm also having a hard time understanding why is this illegal.
Re: SEC settles with EtherDelta founder for running an unlicensed exchange [pdf]
#18This is why coinbase bought a broker dealer. And this is why you'll see a lot more BDs being setup to properly clear crypto trading.
BDs? What does that mean?
Broker Dealer: https://en.wikipedia.org/wiki/Broker-dealer
Re: SEC settles with EtherDelta founder for running an unlicensed exchange [pdf]
#19I am no libertarian, but this feels thoroughly unfair on a human level. EtherDelta was a noble pursuit in my book - it was useful, entrepreneurial and did not exploit anybody.
Yes, I'm also having a hard time understanding why is this illegal.
ICOs are mostly illegal unregistered securities so any service that trades those tokens is also illegal.
Re: SEC settles with EtherDelta founder for running an unlicensed exchange [pdf]
#20Earlier quoted context omitted.
Yes, I'm also having a hard time understanding why is this illegal.
ICOs are mostly illegal unregistered securities so any service that trades those tokens is also illegal.
I'm not talking about ICOs. In fact, EtherDelta was one of the few projects that launched without an ICO, and before the ICO craze.