The Securities and Exchange Commission (SEC) has charged ShapeShift AG, a Swiss company that previously operated out of Colorado, with acting as an unregistered dealer in connection with its operation of an online crypto asset trading platform.
To settle the SEC’s charges, ShapeShift agreed to pay a $275,000 penalty.
According to the SEC’s order, ShapeShift operated ShapeShift.io, an online platform through which it bought and sold crypto assets from and to users from 2014 until early 2021. At its peak, the ShapeShift platform allowed customers to exchange at least 79 crypto assets. ShapeShift acted as a market-maker for these assets by serving as the counterparty to every transaction, marketing itself as a crypto “vending machine.”
The crypto assets bought and sold by ShapeShift included crypto assets that were offered and sold…
Read More
