SEC targets decentralized exchange developer warns others brutally. Lessons?

[aliashraf]

U.S. SEC charges EtherDelta smart contract developer Zachary Coburn and threatens developers of decentralized exchange software officially.

It is why we have Satoshi missing, isn't it?

U.S feds never deserved to be considered as friends but Trump administration appears to be the worst enemy ever. They care about nothing specially law when it comes to expanding their authority. Seriously, what kind of a reasonable government charges a programmer for coding open-source?  

Now, what would be the lessons?

[OmegaStarScream]

Developers could remain anonymous and keep building great things for the community. There is nothing they could do about it, more and more decentralized exchanges are coming out and Atomic swap is also coming. Besides, I doubt SEC could do anything to anyone outside the U.S.

[mazdafunsun]

This was a bit of a shocker for me, but was it trully decentralised? I believe that someone profited from these txs.
Correct me if I am wrong on this.

[Roidz92]

Satoshi is unknows because if was different, now he would be dead
By the way, 300k$ for an exchanger owner is only funny, nothing else.. obviously he paid that.

[CryptopreneurBrainboss]

Developers could remain anonymous and keep building great things for the community.

this would had been the best option (still is) but in cases of scam we'll have no one to hold responsible.  Knowing founder/cofounder of decentralized projects don't make the project less decentralized. SEC (government) knows the blockchain technology is a major threat and will keep on attacking it. The etherdelta offends was listing of security tokens without permission. So the best option now will be obeying the laws of the country decentralized exchange are residing in to prevent further issues. cooperation is the only way to solve this issue, if you want to list security tokens get a license just as coinbase did.

[BuyBuyBitcoin]

He was running it out of Chicago when he could have easily registered it under a company outside of the US. Still can't offer it to US residents without proper licensing but the SEC wouldn't have any reason to go after a person or company outside the US that isn't accepting US residents.

[talkbitcoin]

this has been a very strange news. maybe there is more to it than what the news sites are publishing but in any case i believe that if the US government keeps this nonsense up we will see a lot more Satoshis in the scene who will create decentralized systems that kicks US out of everything.

[dothebeats]

If they (SEC) can prosecute developers and make it so because they did it on their own terms, I guess it will only make a lot of matters worse for them in the long run since they are forcing developers to hide into obscurity because of what they're doing. They aren't making these sanctions to protect the consumers but to rather have more control over the market. To be fair though, Coburn could have just registered it as an exchange once it grew big in order to prevent these things from happening, but then again, there's really no legal framework stating the range of your traditional cryptocurrency exchange.

[kryptqnick]

They care about nothing specially law when it comes to expanding their authority. Seriously, what kind of a reasonable government charges a programmer for coding open-source?  

Now, what would be the lessons?

Well, it is true that is technically operated as an exchange and was supposed to be registered and approved by the authority that regulates exchanges in the US. If it was just some code, I am sure nobody would've been charged. However, this was not the case. It was an activity that brought income and allowed US citizens to trade tokens that were not allowed to be traded in the US, right?
The main lesson IMO is that exchanges just shouldn't do business in the US 

[avikz]

Since last few years, we are seeing the reincarnation of Fascism around the world. The most prominent is obviously the US when Trump became an elected President. Second is India when Modi became the Prime Minister and we already had Fascists power in China. These large fascist powers are actually driving the world towards a large unrest, which will certainly surface in few years of time!!

Decentralized exchanges are considered as a threat to the centralized governments because it it based on the idea of anonymity. I am sure, other decentralized exchanges will be pulled out by SEC or by the nexus of government enforcement agencies shortly!!