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The ShapeShift cryptocurrency exchange is taking on a form that represents the worst nightmares of regulators looking to reign in the digital assets sector.
As today’s Big Read explains, in July, the 37-year-old entrepreneur Erik Voorhees announced the company he had founded seven years earlier to help people exchange cryptocurrencies without exposing their names would disappear from the face of the Earth — even as its services remained available to those who wanted them.
ShapeShift would become a “decentralised autonomous organisation”, or DAO, over time, he declared. Its corporate structure would fade away. “ShapeShift’s vision is the establishment of an immutable, borderless financial system,” he wrote on Twitter, where he has nearly 525,000 followers. “Let’s be direct:…
