SEC, CFTC and FBI Charge 1Broker Bitcoin Swap Dealer
October 1, 2018
The US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have applied to court against a Marshall Islands securities dealer for alleged securities sector law violations, namely, for unlawful actions with the major cryptocurrency exchange.
The SEC has claimed it has accused 1pool Ltd, also called 1Broker, and its executive Patrick Brunner of selling securities swaps within the USA and other countries without investment restrictions. Remarkable is that investors could acquire these swaps for the major cryptocurrency only.
In addition, the SEC also reported that 1Broker hasn’t been registered as a securities-based swaps dealer and transferred these swaps to the registered national exchanges.
The CFTC also charges 1Broker with violating from securities legislation as the company hasn’t adopted anti-money laundering and supervisory procedures against.
The FBI has seized 1broker.com domain and told the firm has broken all anti-money laundering and anti-scam standards. Above all else the founders have also been subject to sanctions by the regulators for operating as an unregistered broker\dealer.