UST IN: SEC charges EtherDelta founder with operating an unregistered exchange
"we're going to catch the bad guys! and save you all from scams!!"
>throws the book at the owner of legit dex
People will dump their shitcoins to ETH
embrace for ETH pump
ETHERDELTA WAS GOOD YOU RETARDS
Omg this. There are so many better targets.
fucking sec REEEEEEEEEEEE
Anyone else remember that ED chink token scam? EtherDelta Token - what ever happened with that?
shit, is IDEX next?
Isn't it like... Impossible to stop it as long as ETH network is up?
But but but it's a DEX
Lmao
And you cucks don't believe that shitcoins like link are securities!
ED sold their "exchange" to chinks
thats why it went to shit
Why do Americucks hate freedom so much?
It’s decentralized they said
DEXs are the future they said
Be your own bank they said
they can seize the domain and/or server hosting the front end. iirc theres no "offline" version of ED you can download + run yourself like with Augur
Interesting choice. My guess is they targeted ED specifically to make a point that decentralised programs running "freely" on global platforms are still within the regulatory purview of muh SEC.
Any dex can pop up and tap into the smart contract, which is secured on the ethereum blockchain. There is no stopping it.
Where do we need to meet to overthrow the sec
>operating
>decentralized exchange
How? SEC needs to arrive in the 21th century
It's a pain in the ass but it can be done, there are guides for downloading and running a local copy ED on your own pc, the site's just a UI for interacting with the smartcontract.
>▶
>
The only thing this will do is make entrepreneurs go to Malta, Singapore or Bahamas to open up exchanges. EU killed themselves out of the internet by stopping innovations in the 90s.
Malta is in the EU dumbo
>Cryptocurrencies without decentralization.
>Centralized exchanges
>Second layer settlement channels (centralized hubs)
>Institutional investors
>Custodians
JUST in
Are those other targets american?
(You)
get ready for 100 etherdelta mirrors. They have no idea what they are doing
is binance a "registered exchange"?
how do they intend to go after a decentralized exchange that you can literally run the front-end locally on your local machine, pic related
it was a scam
Is Etherdelta? (hint: it's not)
This must be the fault of the fucking libcucks...No wait, this is the fault of that racist right wing party. Oh, wait...maybe they're both just terrible and the American government on all fronts is shit. Who could have guessed?
They know what they are doing. Of course they can't stop it, but they will make an example out of this guy so people will think twice before designing permissionless trading platforms.
Etherdelta is permitting Americans to trade tokens that are 100% without a doubt securities (and the token creators themselves don't argue with that).
That's the only problem. Etherdelta could come into compliance with one little dumb IP block like the linkpool DEX does.
Not in the 90s, retard. Besides blockchain and internet are two different technologies. You can succeed at one and failed at the other. US is failing at the other.
Kek just imagine when they pay them enough to go after Binance
holy shit muricans cant be more cucked than this
what a weird country
it really depends on what you mean. the SEC is upset because Etherdelta is letting americans trade tokens that the token creators themselves say are securities, while not being registered.
this isn't particularly "anti-innovative" and is entirely different from going after tokens that have a strong argument for not being securities.
lmao thats literally the place where i bought my 80k link stack
they should arrest vitalik if they are upset about people trading ERC20 tokens
EtherDelta is just a interface
>Etherdelta is letting americans
it's a ui to a decentralized smart contract on ethereum platform
surely it's the americans who are illegally using it to buy securities that are at fault?
being run by an american doesn't help. they could easily get to him. allowing all tokens to be traded didn't either. other 'dexs' are more selective with the tokens they list.
good luck tracking anyone down
is binance safu?
>Run
Etherdelta is open source
It is like going after Turing for child porn on the internet
The country is run entirely by dated boomers who are incredibly corrupt paid off to make laws based on the wills of massive multinational corporations? Have you watched any of the house/senate meetings for crypto?
In the last one I watched the one politician said
>Well, I'm a flip phone kind of guy myself
then held up his flip phone
Another politician said,
>Well, we certainly aren't in the peanut fields of Georgia anymore
Or how about the Zuckerberg hearing? Did you watch that? They had no fucking idea what they were talking about. That's why American politics is such a waste of time. It doesn't matter if you vote right, or left, or green into office. They're all going to be shit. Obama was shit when he was in office and let all his constituents down. Now Trump is doing the same thing. Its always trash. Spending your life on politics in America is such a fuckin terrible waste of time. I can't believe the countless hours of lives people on Jow Forums have wasted fighting for their side to win in this dual party farce based on identity politics. What a waste of life. They're just as bad as the normalfags on Twitter, just the other side of the coin. Just KYS at that point.
Can burgers use Binance?
Does Binance list tokens (securities)?
Answer: smackdown is coming
likely all ERC tokens will be delisted
>national securities
so much this
so annoying when people give me shit for not wasting my own time to go and vote when I couldn't give less of a fuck about the USA.
Binance doesn't require a KYC unless you want to withdraw more than 2 BTC per day. Binance doesn't care about legality. That's why they moved from China to Malta.
That's part of why Binance is such a major exchange and Bittrex fell to the wayside. While Bittrex was stuck delisting a ton of coins, very limited in what it could list, etc. (not to mention its vastly inferior user interface & lack of cell phone app), Binance took the lawless route. That's why I don't think they will start doing KYC either. As long as they can remain lawless, they get to list all the coins they want, and will get a ton of users.
Also seizing domains will become orders of magnitude harder in 2019. That's all I can tell you but it's about to happen. Screencap this.
KEK
this is so wrong it hurts. binance has listed nothing the SEC has come down on for being a security and is working diligently to make something like a second exchange to allow the trading of securities, because it's not just the U.S. that restricts who can buy and sell securities.
finder.com.au
they've been a little cavalier, sure, but they fully intend to be as compliant as possible.
no it isn't. etherdelta trading wouldn't exist without zach launching the website
no, not all erc20s have been defined as securities. there is a difference between allowing all tokens, some possibly securities to be traded for each other and forcing each shitcoin to get a legal opinion that they are not securities before listing.
Alright show's over goys, nothing to see here:
Without admitting or denying the findings, Coburn consented to the order and agreed to pay $300,000 in disgorgement plus $13,000 in prejudgment interest and a $75,000 penalty. The Commission's order recognizes Coburn's cooperation, which the Commission considered in determining not to impose a greater penalty.
I once put up a sell order on ED where I sold 0.001 ETH worth of tokens for 100 ETH and somebody filled it. It was crazy, I am a poorfag too but now I at least have 20k dollars.
>pay $300,000 in disgorgement plus $13,000 in prejudgment interest and a $75,000 penalty.
The sec said that most icos are securities. The chairman said that all icos he has seen are securities.
Binance lists a shit ton of icos. Hmmmmm
it's not even against ed just him. ignore the scaremongering faggots that appear in these threads
if you run an ICO then it is a security
>Childporn on the internet wouldn't exist if Turing wouldn't have developed the turing machine
You could go right now, copy the smart contract and make your own etherdelta. The sec is operating like if it is still in the early 20th century. He will walk free and gets recompensated for the damage the Sec did. Either way the tax payer is the fucked for maintaining outdated corrupt institutions
>The sec is operating like if it is still in the early 20th century
This is so true. Inevitably this happens because the SEC is just trying to puff their chest. "We can still charge you!"
Yeah, they had nothing on him. Pays the fine and walks away. This is a real life example of decentralization owning an institution
But he still was fined hundreds of thousands of dollars
this guy is probably pretty rich after making the smart contract on ED, he made a % cut off every trade.
Maybe it is time to shill for the Ford family to be jailed for drunk driving
We let the banks become too powerful, all because boomers wanted a big house and a boat.
Nothing that can't be reversed with a mob and a guillotine
Agreed. Real change won't occur until the boomers die. We have to make sure we don't make the same mistakes of the boomers too. We should be pushing money towards advancements in science, healthcare, sustainable energy production, etc., not towards mini-malls and suburbs. We need to be fighting against the rule of banks and corporations and giving rights back to people instead.
Unfortunately, the current state of politics is dominated by snowflake mentality, with pink haired SJW women on the left side, and angry, jaded young white men on imageboards on the other side.
Both sides are total cults though. They follow what their party and what their cults tells them and anything that doesn't fit in with their very limited mindset is deemed wrong. Progress will come from objective critical thought, personal action, sustained projects, and the rebuilding of communities and social networks off the internet, not voting, not relying on politicians, and certainly not screaming about shit on social media and Jow Forums.
What the US needs to realize is that this country is run by a powerful group of unelected entities (banks), who buy politicians to represent them. Voting has NOTHING to do about voting for YOUR /guy/. They always win no matter who gets elected because they own the political institutions.
>healthcare
Scam
>(((science)))
Scam
>sustainable energy production
Biggest Boomer scam ever
Shu shu Boomer
nigger.
No. MtGox 3.0.
Ok, so where should the money be going then? What should tax money be used for? (In before taxation is theft; I agree).
Are you retarded? BNB is literally the definition of an unregistered security
>What should tax money be used for
External Security, i.e army Period
No. That's why they use USDT, so they can evade USD money laundering and fraud regulations.
its so obviously a money grabbing scam
This is the reason I like binance. Only ones continuing the lawless ancap tradition.
>>Jow Forums
It's registered in Malta
You think itll pull a megaupload?
is this possible?
you mean less liquidity and a binance exit scam
ofc it is, you can download the front end from GitHub and run the thing yourself on your own pc right now
The order books are still centralized on the back-end you absolute tech illiterate brainlet
Cringe
Ok time to get my shitcoins off binance
EtherDelta gets charged while Mercatox continoues business as usual
AKA "use coinbase or else"
How is Etherdelta harmful to society such that its creator needs to be punished? These guys are jackals. Best to get out and cut exposure if you can. What's the best actually free country? Singapore?
this right here is what I was wondering about. decentralised order books would mean that every order has to be on the blockchain. etherdelta doesn't work that way. wouldn't be feasible... even having them on more than one server at a time would be super risky
Shut the fuck up goy, buy these bonds
Fuck goybase. So they can keep my fucking funds hostage for 30 days? Fuck that.
>I call everything cringe
FUCK THE SEC!
How dumb are you ppl on this board? Constantly blaming "boomers" for everything that is wrong in the world as if economic or social inequalities never existed before their generation and the world wasn't always run by the elite throughout human history. Please, 80% of you shut the fuck up about politics, you have no idea what you're talking about.
>T. butthurt boomer derailing blame away from themselves as always
I'm not a boomer you fool