Cardozo Arts & Entertainment Law Journal
Abstract
The rise of cryptocurrencies has led to the development of both centralized and decentralized exchanges, which face significant regulatory challenges under U.S. securities laws. The SEC has applied the Howey test to determine whether tokens qualify as securities, and its enforcement actions, such as against EtherDelta, highlight the need for clarity on the liabilities of developers, operators, and users in decentralized systems. The article advocates for the SEC to refine its regulatory approach to balance investor protection with the promotion of innovation in blockchain technology.
Disciplines
Banking and Finance Law | Criminal Law | Criminal Procedure | Entertainment, Arts, and Sports Law | Intellectual Property Law | Law | Legal History | Science and Technology Law | Securities Law
Recommended Citation
Robert Sistoso,
Post-EtherDelta: Clarifying Liabilities for Cryptocurrency Exchanges and Market Participants,
39
Cardozo Arts & Ent. L.J.
343
(2021).
Available at:
https://larc.cardozo.yu.edu/cardozoaelj/vol39/iss1/11
Included in
Banking and Finance Law Commons, Criminal Law Commons, Criminal Procedure Commons, Entertainment, Arts, and Sports Law Commons, Intellectual Property Law Commons, Legal History Commons, Science and Technology Law Commons, Securities Law Commons