Summary
SEC files cease-and-desist against ShapeShift for operating as an unregistered dealer for securities before 2021. ShapeShift has shut down U.S. exchange operations.
Key Points
1. The U.S. Securities and Exchange Commission filed a cease-and-desist against ShapeShift for operating as an unregistered dealer for securities before 2021.
2. ShapeShift, a crypto exchange that previously operated out of Denver, Colorado, has since shut down its U.S. exchange operations.
3. The allegations against ShapeShift highlight the regulatory challenges facing cryptocurrency exchanges in the United States.