- The financial regulator in the U.S, CFTC has taken action in a filing against XBT Corp. SARL.
- There are allegations that the Swiss securities dealer had been unlawfully operating.
U.S. financial regulator, the United States Securities and Exchange Commission (SEC) has filed charges against XBT Corp. SARL.
The SEC detailed the allegations on 31 October within a press release, alleging that the Switzerland-based securities dealer, XBT Corp. SARL, operating under the name First Global Credit, was offering and selling unregistered security-based swaps to U.S. investors without complying with the registration and exchange requirements governing security-based swaps.
Additionally, the SEC noted that XBT Corp. SARL used a raft of marketing methods to entice U.S. individuals into using Bitcoin (BTC) to buy and sell a variety of investment products.
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