SEC Commissioner: SEC Settlement with ShapeShift "Adds Ambiguity to the Crypto Industry"

U.S. SEC Commissioners Hester Peirce and Mark Uyeda on Wednesday criticized the agency's latest enforcement action against crypto firm ShapeShift, saying the agency's settlement with ShapeShift "adds to the ambiguity of the crypto industry." "The enforcement action against ShapeShift is the latest evidence of the Commission's ill-conceived cryptocurrency policy series," the duo said. Peirce and Uyeda said the SEC's order fails to specify which of the 79 crypto assets are considered investment contracts and provides no explanation.