Stephen Palley comments on SEC enforcement actions against token trading platforms.
Reporting a settlement between the SEC and the founder of cryptocurrency trading platform EtherDelta, Coindesk notes that the SEC charge that EtherDelta was an unregistered securities exchange "can be seen as a shot across the bow of token-trading platforms". Stephen Palley told Coindesk that the SEC is far from finished with a sweep of the industry:
“They’ve got dozens and dozens of investigations going on. I think we’ll see more press releases, more enforcement actions. This is certainly not the end of anything. This is maybe the end of Act 2 and the beginning of Act 3.”
Read more: Expect the SEC to Target More Token Exchanges After EtherDelta