-
On Today’s Episode of As the Crypto World Turns: Statement on ShapeShift AG
The Commission’s enforcement action against ShapeShift is the latest installment in the serial drama of the Commission’s poorly conceived crypto policy.[1] The current episode recounts the tale of an early innovator in the market for crypto assets. In August 2014, ShapeShift AG started an online platform that facilitated trading in crypto assets. ShapeShift sold from its own inventory, thus acting as a counterparty to both the buyer and seller, and generated revenue on the spread—the difference between its cost to acquire the crypto asset and the price at which it sold the acquired asset. ShapeShift operated ... (full story)