This is nothing but pure harassment already. SEC is digging into the past just to harass and make money from companies. It's good, however, that ShapeShift will settle this with a relatively small fine.
But I can't see the logic in issuing a cease-and-desist order against a company that has already left and ceased operating years ago. It seems moot to me. Why should you order a company to stop offering its services when it has already done it years prior? It seems pointless.
The article does not state if ShapeShift exchange is going to appeal the decision of the sec or if they are going to pay the civil fine of $275,000, i believe they will pay the fine if they are convinced they are guilty, because that would be a fair settlement for them.
It was ShapeShift itself that offered the settlement and SEC accepted it. It wasn't the other way around. And I guess it was a wise decision. For peace of mind and to do away with costly and lengthy trials, $275,000 is already a bargain. It's not about guilt.