There are rules and regulations for every industry, but no specific rules for cryptocurrencies lead to unwanted legal tussles.
The tussle between cryptocurrency exchanges and the Securities and Exchange Commission is common. Several crypto-based companies left the United States in the past few years and secured approval in other nations.
ShapeShift, an SEC-troubled cryptocurrency exchange, is reentering the cryptocurrency sector again. Soon after the regulatory commission’s notification, the firm paused its operation in 2021.
In a March 05, 2024 filing, the SEC said it might accept the settlement of the exchange, which includes a $275,000 fine and an agreement that it will not violate the Securities Exchange Act again.
The troubled exchange offers service from more than 50 crypto coins/tokens and has a more than 30 thousand user base.
As per the SEC claims, ShapeShift was operating as an unregistered dealer in the United States, similar to the allegations i
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