Bitcoin News Is Not For Sale

Please don’t skip this message — it only takes a few minutes to read. Sorry to bother you, but time is running out.

Bitcoin is freedom. If you think independent media that is bitcoin-only is important, if you believe information and education about bitcoin matters for adoption, and if you have gained something from our work, we would be grateful if you could chip in $21. 

Join the 2% of our readers who occasionally make a donation. If everyone reading this donated just $21, we would reach our target in a couple of hours. $21 won’t break you, we hope.

To cover the cost for our servers, editors, writers, and thumbnail artists we rely on our readers’ generous support. 

How You can chip in:

  • Send sats as a tip to a writer. Each and every one of our writers has an active tipping widget.
  • Join our campaign on Awesome perks are waiting for you such as the Bukele Blend Coffee.

Your support ensures that Bitcoin News stays independent with a laser focus on Bitcoin and only Bitcoin.

Funding Progress

Shapeshift Feels Regulatory Pressure with 64 Law Enforcement Requests in 2018

written by

Shapeshift Feels Regulatory Pressure with 64 Law Enforcement Requests in 2018

Support free journalists: > send a tip

This was not the attraction offered companies getting into cryptocurrency, but it appears cryptocurrency business Shapeshift is still one of many blighted by over-regulation within the industry.

The company, claiming to be one of the oldest cryptocurrency exchanges in the business, was represented at the Consensus Conference in New York last week, with its founder explaining just how significantly it was hit last year with numerous requests from the US Department of Homeland Security and the Securities and Exchange Commission.

The Swiss-based operator was hit with 60 such law enforcement requests in 2018 and further claims that the company was “gutted” by legal fees associated with running the exchange, according to Shapeshift CEO and founder Erik Voorhees, adding:

“We’ve spent millions of dollars on legal fees and trying to navigate this stuff and that continues. There is no resolution to the legal grey area and we’re an international company. Every country is a little different, most countries have multiple regulators, none of the regulators really know how to treat this stuff and this stuff keeps changing.”

However, it appears that Shapeshift after “periods of wild profitability” according to Voorhees, have completed significant reconstruction after a Wall Street Journal claim last year that the company had laundered $9m-worth of cryptocurrency. When questioned if these changes were a result of regulatory pressure Voorhees was not prepared to comment, although he did hint that the rebuild wasn’t voluntary, which amounts to the same thing.

In September last year, Shapeshift took the risk of diminishing its popular user base when it announced new NYC guidelines after launching a membership program, effectively putting an end to anonymous trading.


Follow on Twitter: @bitcoinnewscom

Telegram Alerts from

Want to advertise or get published on – View our Media Kit PDF here.

Image Courtesy: Pixabay

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Read More Bitcoin News


Join our Newsletter


Latest on Bitcoin News

Video of the Week

Join our Newsletter