Operator Of Unregistered Crypto Exchange Settles SEC Enforcement Action

Mealey's (November 13, 2018, 2:08 PM EST) -- WASHINGTON, D.C. — In in a Nov. 8 order in cease-and-desist proceedings, the Securities and Exchange Commission held that the operator of a cryptocurrency exchange will pay $375,000 in disgorgement and civil penalties to settle claims alleging that it developed and operated the exchange without first registering it with the SEC as required pursuant to federal securities law (In the Matter of Zachary Coburn, Release No. 34-84553, SEC)....