SEC Beams Searchlight on Cryptocurrency Exchanges in the United States
The United States Securities and Exchange Commission (SEC) says it isn’t going to be swayed by technical definitions when it comes to its oversight of cryptocurrency exchange platforms. This pronouncement comes barely a day after the Commission brought up charges against the founder of EtherDelta – a decentralized virtual currency trading platform.
Centralized/Decentralized Exchanges – Semantics and Nothing More
If you thought running a decentralized cryptocurrency exchange (DEX) exempted you from SEC oversight, think again. As far as the Commission is concerned, the issue of centralized and decentralized exchanges is simply semantics.
Speaking to Forbes, the head of the SEC’s cyber unit, Robert Cohen, said:
The focus is not on the label you put on something or the technology you’re using. The leveled is on the function, and what the platform is doing. Whether it’s decentralized or not, whether it’s on a smart contract or not, what matters is it’s an…
Read Full Story : Live Bitcoin News