SEC Cyber Chief Puts A New Type Of Cryptocurrency Exchange On Notice
The desire to 'slip and slide' around standards and regulations with new 'currencies' is fraught with weaknesses and will require new thinking to ensure there is no 'wild west' approach with peoples' money! by Michael del Castillo Forbes Staff, 9 November 2018 Cryptocurrency exchanges, be warned. There’s no out-innovating the regulatory reach of the U.S. Securities and Exchange Commission. Clarifying an announcement yesterday that the SEC is in the middle of its first-ever case against a cryptocurrency exchange running on the ethereum blockchain , Robert Cohen, the chief of the SEC’s newly created cyber unit, exclusively told Forbes that using any blockchain to create an exchange without central operations doesn’t remove the original creator's responsibility. As similar decentralized exchanges are being launched with increasing ease and frequency, the warning shows how serious the SEC is about taming the cryptocurrency Wild...
