Benzinga - The U.S. Securities and Exchange Commission announced Tuesday that it filed a cease-and-desist against cryptocurrency firm ShapeShift, alleging that it operated as an unregistered securities dealer. "The crypto assets offered by ShapeShift included those that were offered and sold as investment contracts and, therefore, securities," the SEC wrote in the Tuesday filing, citing a 1946 court case that brought forth the Howey test.
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