First Global Credit

Law enforcement and regulators in the US have taken action against Swiss cryptocurrency exchange First Global Credit, which is controlled by Britons Gavin Smith and Marcie Terman and now operates as PanXora, which claims to have affiliates in the Bahamas, Cayman Islands, Gibraltar, Singapore, and UK.

Announcement on the website of Switzerland-domiciled cryptocurrency exchange operator XBT Corp. Sarl, d.b.a. First Global Credit, at www.firstglobalcredit.com that the domain name has been seized by the Federal Bureau of Investigation, of the United States. XBT Corp. is controlled and operated by Gavin John Smith and Marcie Debra Terman, both citizens of the United Kingdom.

Order Instituting Proceedings, Making Findings and Imposing Remedial Sanctions for failing to register as a Futures Commission Merchant against XBT Corp. Sarl, d.b.a. First Global Credit, a cryptocurrency exchange firm domiciled in Switzerland, before the Commodity Futures Trading Commission.

Order Instituting Proceedings, Making Findings and Imposing Sanctions for violating "the registration and exchange trading provisions of the Securities Act and the Exchange Act" against XBT Corp Sarl, d.b.a. First Global Credit, a cryptocurrency exchange firm domiciled in Switzerland, formerly d.b.a. First Global Credit Nevis, before the Securities and Exchange Commission.