ShapeShift reaches a settlement with the SEC regarding allegations of selling crypto securities

ChainCatcher news, cryptocurrency exchange ShapeShift has reached a settlement with the U.S. Securities and Exchange Commission (SEC) regarding allegations of selling crypto securities. The SEC stated that it will accept ShapeShift's settlement offer, which includes a $275,000 fine and an agreement for the company to cease violating the Securities Exchange Act. Previously, the SEC had issued a cease-and-desist order against ShapeShift, prohibiting it from operating as an unregistered dealer for crypto securities in the U.S.