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The Ontario Securities Commission (OSC) in Canada has issued another consumer warning to residents of unregistered crypto platforms, including three companies linked to KuCoin.
Final Warning for CSOs part of a series of actions by regulators to protect investors Regarding the risks associated with digital assets.
OSC Questions for Investors warn Regarding harmful activities in the stock market from time to time.this warning Aims to educate the public Certain types of fraud or other illegal activities so that investors can make informed decisions about where they want to invest.
The commission issued a similar warning last month, claim KuCoin This is an unregistered organization. Today’s Alert Name 13 company Many of these are crypto companies that are not allowed to trade securities or provide advice in Ontario.
The list includes subsidiaries of KuCoin, which were successfully banned by the commission from operating in Ontario and won in court.
The Current State of Cryptocurrency in Canada
In Canada, cryptocurrencies have come under a lot of scrutiny lately. The government is trying to find the best way to regulate it. Allegedly, quantity Holder of Bitcoin from 5% in 2020 to 13% in 2021, according to a Bank of Canada’s most recent report ,
The average amount of Bitcoin is $500 and most investors use it for speculation because of its high price unstableThis makes it unsuitable as a payment method.
despite the enthusiasm Canadian Securities Authority (CSA) now authorised All platforms Business Cryptocurrency in Canada accept Some benchmarks before the trade.
After the first set of registration requirements For pre-OSC platforms of Business In terms of crypto assets, Crypto.com has completed a pre-registration agreement, becoming the first trade Cryptocurrencies that operate under this law.
Crypto.com is authorized to operate in Canada
CSO-approved crypto products to be offered on Canadian cryptocurrency platforms crypto.com is becoming the first trade this way.
The pre-registration commitment acknowledges that Crypto.com complies with all Canadian regulations established by the Canadian Centre for Financial Transactions and Reports Analysis. (Fintrack) Y Financial Markets Authority (electromotive force) eQuebec.
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