Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the hreflang-tags-pro domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/wp-includes/functions.php on line 6121
[www-stage.newsbtc.com/news/ai-and-tech/lawyer-shapeshifts-membership-move-follows-threats-from-regulators/]
[wp-includes/functions.php:6121 trigger_error(), wp-includes/functions.php:6061 wp_trigger_error(), wp-includes/l10n.php:1371 _doing_it_wrong(), wp-includes/l10n.php:1409 _load_textdomain_just_in_time(), wp-includes/l10n.php:195 get_translations_for_domain(), wp-includes/l10n.php:307 translate(), wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php:24 __(), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php:45 include_once('wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php'), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php:40 require_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php'), wp-settings.php:545 include_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php'), wp-config.php:53 require_once('wp-settings.php'), wp-load.php:50 require_once('wp-config.php'), wp-blog-header.php:13 require_once('wp-load.php'), index.php:17 require('wp-blog-header.php')]

Lawyer: ShapeShift's Membership Move Follows "Threats" From Regulators
NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Lawyer: ShapeShift’s Membership Move Follows “Threats” From Regulators

newsbtc
newsbtc
6 years ago
3 mins read
shapeshift

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

News came yesterday that the Bitcoin exchange ShapeShift are introducing a new membership initiative — implying that users will have to provide more personal data in order to use the platform’s services.

ShapeShift Announces Membership Program

According to the company’s Tweet, which also contained a link to a more expansive definition of the new terms:

“ShapeShift has big news for our users! We are now offering a new membership program, which will provide users with more benefits & better user experience.”

As of now the registration is optional, but in the future it will become obligatory. The company positions the new initiative as a sort of loyalty program that will offer users additional benefits like favorable exchange rates and rewards for FOX token transactions.

ShapeShift’s CEO Erik Voorhees admits that the compulsory registration is a painful but necessary measure, dictated by the unclear regulatory landscape:

“Yes, that last detail sucks. We would prefer if the collection of personal information were not a mandatory element. We still firmly believe that individuals, regardless of their race, religion, or nationality, deserve the right to financial privacy, just as they deserve the right to privacy in their thoughts, in their relationships, and in their communications. Such privacy is a foundational element of civil and just society and should be defended by all good people. We remain committed to that cause, and it is best served if we are smart about our approach.”

Response in Crypto Community

In response to this news, Washington D.C.-based lawyer Jake Chervinsky stated that the moves have in fact been fueled by yet unidentified regulators, saying ShapeShifts’s decision to start collection user’s personal information is in response to threats perceived by financial authorities, and that, “in short, this is how regulators silently invade crypto.”

He begins by pointing to the fact that Voorhees is “a true bitcoiner who speaks passionately about financial privacy & separating money from state.” And adds that enforcement agencies rely heavily on financial surveillance, saying that the concept of anonymous cryptocurrency exchanges and transactions is a “nightmare for regulators & investigators.”

One of his Tweet’s read:

“Our financial system is expressly designed to give the government maximum insight into our financial behavior. To that end, most financial institutions have to perform customer due diligence and share information with regulators. We call this “know your customer” (KYC).”

He followed up by saying:

“Now, I’m *not* saying that I think ShapeShift qualifies as a money services business or that it’s legally obligated to perform KYC. But, I *am* guessing that FinCEN (or another agency) has threatened ShapeShift with an enforcement action if it doesn’t start to comply.”

In the end, Chervinsky reiterates that the announcement is not a sign that Voorhees has “sold out,” but instead places blame on regulatory authorities, saying that “[the government’s] fingerprints are all over this decision.” As of yet, no government agencies have made any official statements regarding ShapeShift’s moves.

That, Chervinsky says, “is just how regulation works.” A few hours ago Voorhees tweeted;

https://twitter.com/ErikVoorhees/status/1037540229358309377

 

Image from Shutterstock
Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin price news

Bitcoin Set For 50%+ Move Within 6 Months, Says Hedge Fund Boss

Bitcoin is currently changing hands just above $108,000, consolidating after Tuesday’s fresh all-time high. Charles Edwards, founder of the digital-asset...

Jake Simmons 1 week ago
Bitcoin

Bitcoin Diamond Hands Are Buying Again, Here’s Why It’s Bullish For The Market

Bitcoin has spent the last five days trading within a relatively narrow range between $106,229 and $111,807, following its recent...

Scott Matherson 1 week ago
Bitcoin Price Retreats

Bitcoin Price Touches Support Zone — Will Buyers Step In?

Bitcoin price started a fresh decline and tested the $106,800 zone. BTC is now consolidating and might aim for a...

Aayush Jindal 1 week ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin, Crypto, BTC

Bitcoin $106,800 Support Retest To Determine Next Move – Breakout Or Breakdown Ahead?

Rubmar Garcia 1 week ago
Bitcoin Up 15% in a Month, Analyst Cautions on MVRV Resistance Level

Bitcoin Up 15% in a Month, Analyst Cautions on MVRV Resistance Level

Samuel Edyme 1 week ago
bitcoin

Bitcoin Surges With Low Retail Interest – Is A Second Wave Coming?

Ash Tiwari 1 week ago

Premium Sponsors

Top Brands

Press Releases

  • A smart choice for XRP investors to passively earn money...

    2 weeks ago
  • Bitget Lists Ripple USD (RLUSD) to Expand Stablecoin...

    2 weeks ago
  • Bitget Lists Ripple USD (RLUSD) to Expand Stablecoin...

    2 weeks ago
  • Let everyone earn $10,0080 a day – CRYPTOMININGFIRM...

    2 weeks ago
  • Start RIPPLECOIN Mining cloud mining package through...

    2 weeks ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.