US SEC’s scanner on Ethereum-based exchange

The U.S Securities and Exchange Commission (SEC) has always kept an eagle eye on the crypto regulation, having embraced the market even while fighting to fend off fraud. 

The US regulatory authority has filed charges in the first-ever case concerning a decentralized Ethereum-based exchange. The head of the SEC’s new cyber unit has trailed with a warning that decentralized exchanges must be compliant as well, adding that creators will be held responsible.

The SEC has brought charges, in the recent past, against the creator of decentralized exchange EtherDelta, disputably perceived as “just a smart contract,” rather than a conventional cryptocurrency change.

While Chris Giancarlo, Chief of the U.S. Commodity Futures Trading Commission (CFTC), shed some light with CNBC, where his convictions that cryptocurrencies aren’t going anywhere.

Hence, so far, the CFTC has been moving in tandem with the U.S. Securities and Exchange Commission approach, under whose purview ICO security tokens are placed, has yet to demonstrate. Meanwhile, ETH and bitcoin as commodities are under the oversight of the CFTC.

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