Recently, the Securities and Exchange Commission (SEC), a US-based financial regulator, has taken the position that a specific type of blockchain ledger entry, the Ethereum-based token known as The DAO Token (defunct since a code exploit was discovered over a year ago), should be considered a security – specifically an investment contract, as contemplated under the U.S. Securities Act of 1933. SEC also emphasized that it may consider other tokens to be securities, based on their specific properties.
ShapeShift, from its beginning, has been built to be the safest, fastest digital asset exchange on Earth. We don’t just take consumer protection seriously: we created an entirely new model that doesn’t endanger users in the first place. ShapeShift was the first exchange to build this kind of technology.
Here is how we are handling this new regulation for customers residing in the United States.
UPDATE: Following a successful fork and sufficient network stability for Bitcoin Cash, we have added the token (BCH) to our list of tradable assets. Visit shapeshift.io to buy or sell BCH.
In preparation for the proposed Bitcoin Cash (aka BCH) fork set to occur on August 1st, ShapeShift would like to notify our customers regarding our handling of the event.
On July 31, ShapeShift will temporarily turn off all trading capabilities across the platform (web, mobile, and API). This means it will not be possible to buy or sell digital assets on ShapeShift. Trading will remain turned off until we feel that a clear outcome of the fork has been determined. READ MORE
Please read our official statement regarding ShapeShift and the Ethereum hard fork, which will be occuring at approximatly 9 am EST tomorrow, October 18, 2016.
At approximately 9 am Eastern (block 2463000), the ETH network will undergo a hard fork in an attempt to resolve the recent DDOS attacks on the ethereum protocol. At the moment this seems to be an uncontentious change and things are expected to go smoothly (see more on the Ethereum blog).
As some are aware, there have been ongoing malicious attacks on the Ethereum network over the past week or two. The attacks are changing and evolving, and as one vector is fixed, others are opened up. This struggle could continue for a while, unfortunately, though we’re confident Ethereum will emerge stronger. What this means for our users is this: Anyone doing an order with Ethereum (or Ethereum-based assets — Reputation REP, Digix DGD and SingularDTV SNGLS) should expect considerable delays in their order processing. Generally, Ethereum-based transactions are simply taking hours (or even a day or two) to get into their first block.
ShapeShift.io can now officially accept smart contract payments for Ether through our system. After weeks of brainstorming with the ethereum team, developing and, testing we have a solution that lets us take contract payments. READ BELOW TO UNDERSTAND HOW THESE ORDERS WORK:
Over the last few months we have had various reports of various scamming accounts being created on our social media accounts, as well as copy cat websites. With this becoming more of an issues over the last month, we would like to make a few notes about how to avoid falling victim to these scammers.
The reports that we have received from users that have become victims where found in the following ways:
It has come to our attention that a fake Twitter account has been created that mirrors our CEO Erik Voorhees’s account. The users of this account are reaching out to various people and asking “Would you like to fill out a short survey about your experience with ShapeShift, and then get double the amount on your next shift?”