ShapeShift Leaves New York, Choosing Not to Comply with BitLicense

ShapeShift, a popular cryptocurrency exchange based in Switzerland, terminated its services in New York today, due to the state’s BitLicense regulations for digital currencies. Erik Voorhees, Shapeshift Founder and CEO, told CNBC:

"We either would have to do something we're not comfortable with, or leave New York. It's a moral and ethical stand we're going take."

Voorhees has decided not to to comply with the BitLicense, explaining that ShapeShift is not willing to take the risk of exposing its users’ personal information, leaving them susceptible to potential data breaches or hacking attacks. The exchange is known for its ease of use because