Unregistered exchange financial definition of unregistered exchange
that is not required to register
with the SEC
or submit to most of its requirements. Unregistered exchanges are very small and trade
predominantly or exclusively in local issues
. An unregistered exchange should not be confused with unregistered stock
A securities exchange that has been exempted from registration by the SEC. Unregistered exchanges are generally quite small and trade local issues in moderate volume. The Honolulu Stock Exchange is unregistered. Compare registered exchange
References in periodicals archive
In November 2018, Zachary Coburn, (https://cointelegraph.com/news/bancor-seeks-to-exclude-us-users-from-trading-over-regulatory-uncertainty) the founder of Etherdelta was charged with operating an unregistered exchange
by the US Securities and Exchange Commission (SEC).
and its founders, who allegedly defrauded investors in securities offerings of two digital assets, Bitqy and BitqyM, and operated an unregistered exchange
to permit trading in one of them, a digital token called Bitqy.