Still a centralized exchange......
Yes, still centralized but at least we do not have to worry about the SEC (US) coming in and shutting down this exchange. Bitfunder and btct.co was US based which was the reason they had to shut down. This platform might be the next step before we move into colored coins or another decentralized exchange system.
Not completely sure about this, but as far as I know Ukyo is from the UK. He just crapped his pants, which could also happen with Ethera.
Not with us, we have that covered. Our legals are very strong about it. Cannot say about other securities, especially based in UK.