Bybit enters into settlement agreement with Ontario Securities Commission
Bybit is currently holding listing discussions with the provincial regulator, and if the process fails, the firm will cease operations in Ontario. Bybit announced that it reached a settlement agreement with the Ontario Securities Commission (OSC) on Thursday, a day after the OSC released a Statement of Allegations against the crypto asset trading platform. The agreement includes several measures to be taken by Bybit as it engages in registration talks with the Canadian regulator. This announcement comes after the OSC issued financial penalties against Bybit and KuCoin, claiming violation....
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The commission alleges Bybit exposes local investors "to unacceptable risks and create[s] an uneven playing field within the crypto asset trading platform sector.” The Ontario Securities Commission has issued a notice stating that it will be holding a hearing against Bybit regarding the crypto exchange allegedly “flouting” Canadian securities law.In a Monday notice from the Ontario Securities Commission, or OSC, the regulatory body alleged Bybit had “failed to comply with the registration and prospectus requirements under Ontario securities law” despite the OSC issuing an April 19 deadline....
The Ontario Securities Commission (OSC) has taken action against two cryptocurrency trading platforms. Kucoin is permanently banned from participating in Ontario’s capital markets. Bybit has promised to take steps to comply with regulations and register with the OSC. OSC Sanctions 2 Crypto Trading Platforms The Ontario Securities Commission (OSC) announced Wednesday the outcome of enforcement actions against two foreign cryptocurrency trading platforms operating in its jurisdiction. The first is Bybit, a crypto trading platform operated by Bybit Fintech Ltd., incorporated in the....
The commission has made similar allegations against Bybit, crypto exchange KuCoin and Polo Digital Assets. The Ontario Securities Commission claimed Aux Cayes FinTech Company Limited, a legal entity in the Republic of Seychelles that operates crypto exchange OKEx, has failed to comply with the province’s law governing securities.In an Aug. 18 notice, the Ontario Securities Commission, or OSC, alleged that Aux Cayes may have engaged in illegal activity and could face regulatory action if it fails to cooperate with authorities. According to the OSC, crypto asset products offered through OKEx....
"Bybit responded to the OSC’s enforcement action, maintained an open dialogue, provided requested information, and committed to engaging in registration discussions," said the OSC. The Ontario Securities Commission, or OSC, issued financial penalties against Bybit and Kucoin, claiming violations of securities laws and operating unregistered crypto asset trading platforms.In a Wednesday announcement, the Ontario regulator said it had obtained orders fining Kucoin more than $1.6 million and banning the exchange from participating in the province’s capital markets. In a separate decision, the....
Cryptocurrency exchange Binance has informed the Ontario Securities Commission (OSC) that it is committed to ceasing opening new accounts for Ontario residents and winding down certain services to comply with regulations.
Binance Promises to Increase Efforts to Comply With Regulation
Cryptocurrency exchange Binance sent a letter to the Ontario Securities Commission (OSC) Wednesday.
In the letter, Binance listed a few commitments to the OSC, including “ceasing opening new Ontario accounts,” “ceasing trading in existing Ontario accounts, with....