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Banking & Financial Services

14 January 2020
Lloyd Harmetz SEC charges Switzerland-based dealer for selling US investors unregistered SBS for bitcoins

USA - Morrison & Foerster LLP

The Securities and Exchange Commission recently charged a Switzerland-based securities dealer for offering and selling unregistered security-based swaps to US investors using bitcoins and for failing to transact its swaps on a registered national exchange. This case illustrates that the use of new technology and terminology does not exempt investment-product dealers from having to comply with US federal securities laws.

Authors: Lloyd Harmetz, Yiyang Huang, James Schwartz, Jeremy Jennings-Mares
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