ShapeShift Settles SEC Charges It Sold Crypto Securities

ShapeShift, a crypto exchange that was previously operating in Denver, Colorado, has reached a settlement with the Securities and Exchange Commission (SEC) after being accused of selling crypto securities without proper registration. The SEC filed a cease-and-desist order against ShapeShift, which led to the exchange offering a settlement. Under the terms of the settlement, ShapeShift has agreed to pay a fine of $275,000 and ensure compliance with the Securities Exchange Act moving forward. The SEC alleged that ShapeShift operated as an unregistered dealer in the US from 2014 to 2021, similar to other crypto exchanges like Coinbase, Kraken, and Binance.US that have faced similar accusations. ShapeShift shut down its US exchange operations in 2021. The specifics of the alleged crypto securities were not detailed in the filing, and neither ShapeShift nor the SEC has provided additional comments on the matter. It is important to note that the findings in the cease-and-desist order do not have any binding effect on other entities or individuals involved in this or any other cases.