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.
From my understanding but Ukyo is from the US and he is located in Texas. That is why he had to shut down to the the SEC (US regulators).