The founder of cryptocurrency trading platform EtherDelta settled with the SEC for operating an unregistered national securities exchange in the agency’s first case of this kind.
Zachary Coburn will pay $313,000 in disgorgement and interest and a civil fine of $75,000 to settle Securities and Exchange Commission allegations his crypto site acted as an unregistered securities exchange, the agency said.
Coburn created his platform, EtherDelta, in 2016, the SEC said. He previously spent almost five years as a registered representative with a Chicago-based, SEC-registered options trading firm, according to the settlement order. In settling, Coburn neither admitted nor denied ...
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