The U.S. SEC filed a cease-and-desist order against ShapeShift, a cryptocurrency exchange that previously operated out of Denver, Colorado, but has since shut down its U.S. exchange operations. The SEC said it was operating as an unregistered dealer in cryptocurrency securities until 2021.
In a filing with the SEC on Tuesday, the SEC said it would accept ShapeShift's proposed settlement, which includes a $275,000 fine and an agreement that the company will no longer violate the Securities Exchange Act.
The filing states that ShapeShift offers “at least 79 cryptoassets” to its clients, including “assets offered and sold as investment contracts,” although it does not identify any specific digital assets as securities. (CoinDesk)