Two related cryptocurrency firms have fallen foul of United States financial regulators for entering into illegal off-exchange swaps in digital assets and foreign currency.
On July 13, the U.S. Commodity Futures Trading Commission (CFTC) issued an order filing and settling charges against the two firms. The same day, the U.S. Securities and Exchange Commission (SEC) announced that it had reached a settlement agreement with the respondents ahead of instituting its own cease-and-desist proceedings.