EtherDelta news

Established in 2017, USA. No. of pairs - 47. Fiat - USD, EUR, KRW. Decentralized exchange.

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OpenRelay Decentralized Crypto Exchange to Apply New Regulatory Policies Following SEC’s EtherDelta Rulings

In October of 2017, Radar Relay had pointed out on some expected changes in their regulatory strategy. Since then, a lot has happened in that, they have managed to offer its service to users in more than a hundred and fifty countries. Also, they have successfully raised two financing rounds and increased its staff to just about thirty members.} We last wrote about our regulatory strategy in October of 2017. A lot has happened since then, it's time for an update. — Radar Relay (@RadarRelay) November 13, 2018 Recently, the SEC (Securities and Exchange Commission) took disciplinary measures against the founder of ErherDelta for carrying out securities exchange that was unregistered. It is because of this that Relay has decided to make several changes to ensure that the organization is in line with the US laws and regulations. According to the company’s founder, Austin Roberts, the company will alter its terms of use and establish new classifications that will be obligatory for users. What Is To Be Expected? In line with the company’s mission of a universal, apparent, and a participating financial system, Relay illuminates on how they will be steering a multifaceted and ever-changing regulatory environment. To date, the regulatory guidelines have been voluntary. However, with immediate effect, each token trader can only be permitted to continue making orders after agreeing to the terms of the updated policies. Firstly, OpenRelay will introduce and maintain a blacklist for tokens that seem to be securities, in an effort to abide by the United States laws. Currently, OpenRelay hasn’t developed any capability to restrict specific assets or asset pairs from being traded, however, to avoid the exchange of securities, some of these assets will be barred from trading, while others will be allowed to use other categories of services available on the platform. The company will NOT take custody; for example, link sellers and buyers, take part in price negotiations, or give investment advice. According to the firm’s founder, the exchange platform was designed to follow regulations and that traders all over the globe are capable of trading and settling peer to peer. This means that as a relayer, they will operate in a passive system. Secondly, Relay shall continue to ensure a thorough process of token compliance is in place and that it mirrors regulatory guidance. This is to reduce the probability of listing securities. Ever since its launch, Relay has enjoyed the full-time services of the Director of Token Analysis, who works closely with token issuers to ensure the compliance documentation is complete. Also, adjustments have already been completed to its widget toolkit product. This product is useful to users because they can now trade Ethereum-based virtual coins on their personal websites. The toolkit also includes a list of cryptocurrencies that are available. To ensure that all security laws are adhered to, Relay has significantly reduced the list of tokens supported by trading widgets. Once they come up with a review process and are confident that they aren’t securities, the tokens will be gradually added back into the trading widgets. Relay strives to use blockchain expertise as a way to create financial accessibility and agency, and not to avoid regulatory compliance. The firm has also been very attentive to the control and activities of other regulators. Such keenness has prompted them to evolve in regulatory strategy. As Relay begins to implement these compliance measures and have a well-established, functional regulatory system, it will ensure success in the creation of an enduring multigenerational company.
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EtherDelta vs SEC: How The Crypto Industry Can Learn From The Decentralized Exchange Being Shutdown

What Can Be Learned From An Exchange Shut Down? EtherDelta founder Zachary Coburn is known for its digital token trading platform and one more thing – the SEC’s charges against the platform due to its operation as an “unregistered national” security. This week, the SEC settled charges against him. The team at Abacus Journal takes a deep look into what lead up to the SEC charges as well as what it means for the rest of the industry. Here is a brief rundown of what they concluded Issues arose months ago, in which the platform’s users executed around 3.6 million orders of ERC20 tokens. The platform’s orders were issued, even after the SEC the 2017DAO Report that found that specific digital assets are securities. Assets that traded the specified assets would then be under the purview of the SEC and its requirements, unless the asset was exempt. Coburn neither admitted nor denied whether he violated the order, but the settlement agreement requires that he pay $300,000 in disgorgement fees and prejudgment interest in the amount of $13,000. The SEC also levied a $75,000 penalty against him as well. The decision against a higher penalty was due to Coburn’s cooperation. The SEC also recently stated that it will “focus on platforms that offer trading of digital assets and their compliance with federal securities laws.” The SEC’s decisions are driven by the desire to protect investors. The SEC’s statement also solidifies its position that those that participating in “trading of digital assets that are securities and operates as an ‘exchange,’ as defined by the federal securities law, must register as a national securities exchange or be exempt from registration.” Though the SEC had taken such as position, very few exchanges actually registered. The lack of self-reporting was highlighted by SEC Director Brett Redfeam, who expressed that the SEC was “underwhelmed by the enthusiasm for coming within the regulatory structure.” He also discussed that some exchanges are trading ICOs and that the SEC is looking forward to seeing an increase in registration. On the other hand, it may be the case that several exchanges failed to register and self-report due to concern that the commission would act with enforcement action. Another reason could be the absence of concrete guidelines concerning their obligations. These issues do not mean that there are no exchanges willing to register. For example, Jesse Powell of Krakren recently stated that the platform would “probably get registered” with the commission, but first it would like to see “more clarity from the regulator about which digital coins are securities and how those tokens can trade legally.” Another like-example is Prometheum Inc., which registered with the SEC. Moreover, Circle Internet Financial Ltd.’s CEO Jeremy Allaire stated that his firm had discussed registering and that the company had an interested in gaining status as a registered exchange. Another example is Coinbase, which acquired Keystone Corp. The move is strategic of course, as it will permit Coinbase to participate in broker-dealer relationships, digital asset exchanges, and activities for investment advisors – after it receives federal approval of course. Back to the Coburn case. It is possible that the SEC is open to working with individuals who cooperate and it may end up better for participants as well. The SEC did not ban Coburn from participating in market activities in the future either. At the end of the day, exchanges that do not register may find themselves under fire or worse, in the same situation as Coburn.  
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SEC Lays Multiple Charges Against EtherDelta Founder

The SEC (Securities and Exchange Commission), is tasked with governing United States financial markets.  Their goal is to ensure fair markets and the protection of investors.  They achieve these goals through regulations which enforce security measures such as KYC, and AML.  In doing so, companies issuing securities are responsible for financial transparency on investments received. Many in the cryptocurrency world that sought to circumvent SEC regulations thought that DEX (Decentralized Exchanges), were the perfect way to do so.  These exchanges facilitate the trading of digital assets without the need for an intermediary.  By eliminating this third party to facilitate trading, investors gain the ability to simply ignore security measures enforced on traditional exchanges. Etherdelta Charges Laid Today marks the first time the SEC has taken action against a DEX.  Recent news indicates that the SEC has charged the founder of the DEX known as EtherDelta.  This particular DEX is one of the largest in the world. In their press release, Enforcement Division Co-Director of the SEC, Stephanie Avakian, justifies their actions by stating, “EtherDelta had both the user interface and underlying functionality of an online national securities exchange and was required to register with the SEC or qualify for an exemption.” Also commenting was Enforcement Division Co-Director, Steven Peikin.  He stated, “We are witnessing a time of significant innovation in the securities markets with the use and application of distributed ledger technology…But to protect investors, this innovation necessitates the SEC’s thoughtful oversight of digital markets and enforcement of existing laws.” For his actions in founding/operating EtherDelta, Zachary Coburn settled charges with the SEC. –         $300,000 for disgorgement –         $13,000 for prejudgment interest –         $75,000 penalty He was levied with these charges under the pretense that he was operating an ‘unregistered national securities exchange’. An End in Sight? Despite being one of the most commonly used DEX platforms, the volume seen on EtherDelta is miniscule compared to centralized crypto exchanges.  Time will tell whether this news impacts recent gains seen within the cryptocurrency market.   This is not the beginning of the end for DEX.  Although the founder has been charged, decentralized exchanges serve more purpose than to simply allow the circumvention of security measures.  In some cases, they actually provide much higher levels of security when completing trades.  Any time a trade takes place, and is facilitated by a centralized exchange, you are reliant upon their services.  This means that you must store your funds within their wallets, and simply hope that they are not the victim of a hack.  With a DEX, you are able to transfer from wallet to wallet, eliminating the needed trust of a third party. While the future may be bright for eventual secondary market trading of security tokens, it is clear that the SEC does not approve of DEXs.  Hopefully, services such as Bakkt, Securitize, and others have better luck in avoiding the wrath of the SEC. The post SEC Lays Multiple Charges Against EtherDelta Founder appeared first on
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Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust

Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust Digital currency investment group Grayscale confirmed it had successfully launched its latest fund, dedicated to Stellar’s Lumens (XLM) token, in a tweet Jan. 17. Grayscale, which now operates nine cryptocurrency funds, timed the move to coincide with a change of image for its products, renaming all its […] Cet article Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust est apparu en premier sur Bitcoin Central.
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Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project

CoinSpeaker Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project Until now, everybody has been talking about Bitcoin, the most popular and widely used digital currency. However, Bitcoin is unable to process thousands of transactions a second. Researchers from the Massachusetts Institute of Technology (MIT), UC-Berkeley, Stanford University, Carnegie Mellon University, University of Southern California, and the University of Washington have decided to fix such a weakness and develop a crypto asset better than Bitcoin. The researchers are working together as Distributed Technology Research (DTR), a non-profit organization based in Switzerland and backed by hedge fund Pantera Capital. The first initiative of Distributed Technology Research is the Unit-e, a virtual coin that is expected to solve bitcoin’s scalability issues while holding true to a decentralized model and process transactions faster than even Visa or Mastercard. Babak Dastmaltschi, Chairman of the DTR Foundation Council, said: “The blockchain and digital currency markets are at an interesting crossroads, reminiscent of the inflection points reached when industries such as telecom and the internet were coming of age. These are transformative times. We are nearing the point where every person in the world is connected together. Advancements in distributed technologies will enable open networks, avoiding the need for centralized authorities. DTR was formed with the goal of enabling and supporting this revolution, and it is in this vein that we unveil Unit-e.” According to the press release, Unit-e will be able to process 10,000 transactions per second. That’s worlds away from the current average of between 3.3 and 7 transactions per second for Bitcoin and 10 to 30 transactions for Ethereum. Joey Krug, a member of the DTR Foundation Council and Co-Chief Investment Officer at Pantera Capital, believes that a lack of scalability is holding back cryptocurrency mass adoption. He said: “We are on the cusp of something where if this doesn’t scale relatively soon, it may be relegated to ideas that were nice but didn’t work in practice: more like 3D printing than the internet.” The project’s ideology is firmly rooted in transparency, with a belief in open-source, decentralized software developed in the public interest with inclusive decision-making. The core team of the project is based in Berlin. To solve the scalability problem, DTR has decided to develop the Unit-e with parameters very close to Bitcoin’s design, but many things will be improved. Gulia Fanti, DTR lead researcher and Assistant Professor of Electrical and Computer Engineering at Carnegie Mellon University, commented: “In the 10 years since Bitcoin first emerged, blockchains have developed from a novel idea to a field of academic research. Our approach is to first understand fundamental limits on blockchain performance, then to develop solutions that operate as close to these limits as possible, with results that are provable within a rigorous theoretical framework.” The launch of the Unit-e is planned for the second half of 2019. Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project

BitPay CEO Says Bitcoin Is Solving Real Problems Around the World

BitPay co-founder and CEO, Stephen Pair, has recently commented that Bitcoin (BTC) is solving several issues around the world. He said that in a press release uploaded a […] The post BitPay CEO Says Bitcoin Is Solving Real Problems Around the World appeared first on UseTheBitcoin.
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Trillion Dollar Market Cap, Ethereum Chain Splits & Stellar Lumens Fund - Crypto News

In this video, Mattie gives you the latest bitcoin and crypto news. He talks about the ethereum chain splitting, BitGo CEO Says Institutional Money in Crypto Can ‘Easily’ Reach Trillions of Dollars, and a new Stellar Lumens fund. This is a daily segment! ----------------------------------------------------------------------------------- CHECK OUT OUR PODCAST: New episode every Monday and Friday! ----------------------------------------------------------------------------------- Check out Altcoin Buzz Ladies! ---------------------------------------------------------------------------------- Connect with us on Social Media: Twitter: Facebook: Telegram: ---------------------------------------------------------------------------------- Looking for the best cryptocurrency wallets? Check these out: BitLox: CoolWallet S: Trezor: Ledger Nano S: KeepKey: Read about them here: --------------------------------------------------------------------------------- References: Leading Crypto Asset Manager Grayscale Launches Stellar Lumens Trust Crypto Investment Firm Grayscale Launches Fund Dedicated to Stellar Lumens (XLM) Grayscale Tweet Grayscale BitGo CEO Says Institutional Money in Crypto Can ‘Easily’ Reach Trillions of Dollars As Company Launches Cold Storage Trading Crypto’s Billion-Dollar Theft Problem Prompts Safer Way to Trade Ethereum Chain Splits, An Estimated 10% of Miners Stay on Constantinople Ethereum Upgrade – Constantinople Hard Fork Delayed VanEck to Nasdaq: Bitcoin Market Structure Expected to Improve in 2019 Nasdaq Tweet -------------------------------------------------------------------------------- DISCLAIMER The information discussed on the Altcoin Buzz YouTube, Altcoin Buzz Ladies YouTube, Altcoin Buzz Podcast or other social media channels including but not limited to Twitter, Telegram chats, Instagram, facebook, website etc is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the writer, reviewer or narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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