ShapeShift, once a notable crypto exchange, has settled its case with the U.S. Treasury, paying 750,000 USD due to violations regarding transactions from countries like Cuba and Iran. The platform lacked a compliance program until after it received a subpoena.
Founded by Erik Voorhees, ShapeShift ceased operations in 2021. It enabled anonymous trades of cryptocurrencies including Bitcoin and Ethereum, sidestepping typical KYC requirements.
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