Bitcoin Forum

Shapeshift.io offers the service to exchange your crypto currency for another crypto currency by utilizing an automated trading system. Basically you just send coins to an address, and according to their applied rate they will send you another coin.

I don't see a maximum deposit/exchange and no registration/KYC.

Unusual transactions and all transactions above a certain amount are by law to be reviewed by the parties involved in the transaction.

All unusual transactions!

Shapeshift doing anything like that?

Which law is that, and how have you determined that it applies to Shapeshift (in whichever jurisdiction Shapeshift operates)?

This isn’t a trick question. It’s just that it’s up to the person making a legal claim to justify it.

After you chose which assets to trade > Click "Continue" button > On the next window, you'll be able to see the "Deposit Max" limit.

Even though they don't use "KYC", they have the rights to investigate for unusual transactions (although there's no "above a certain amount" scenario).

Read sections 3,9 and 10: ShapeShift Terms of Service (https://info.shapeshift.io/sites/default/files/ShapeShift_Terms_Conditions%20v1.1.pdf)

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You might have a point in that they could potentially be in a gray area of the law, but with that definition, a fair number of Bitcoin and crypto related website would be in the gray area as well. The reason why they are able to provide services in areas in which exchanges would usually be required to collect and keep KYC information such as identification documents is because they do not transact any fiat. If they were to allow exchanges to fiat currencies, the local regulations would start applying as they would actually be considered a financial institution for all intents and purposes, which would put them under a regulation category that's somewhat similar to a bank's, which is actually very hard and expensive to be at because of all the obligations to the government and different jurisdictions.

In Coinomi limits are not shown as long you are within limits. But as you already stated. They defenitively have limits. And even if not, I don't see the point, why they should have limits as long as there are no fiat traded.