SEC, CFTC Charge XBT Corp. With Selling Unregistered Swaps for Bitcoin

SEC, CFTC Charge XBT Group With Selling Unregistered Swaps for Bitcoin – CoinDesk

U.S. regulators filed charges against XBT Corp. Thursday, alleging the company failed to register as a futures commission merchant (FCM). In simultaneous press releases, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) alleged that XBT, otherwise known as First Global Credit, sold security-based swaps for bitcoin without registering on a national exchange.