Canadian Regulator OSC Takes Action Against Crypto Trading Platforms Kucoin a...
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....
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"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....
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....
The OSC published a statement of allegations against Mek Global Limited and PhoenixFin Pte. Ltd. on Monday for allegedly violating local securities laws. The Ontario Securities Commission, or OSC, is taking stern action against two companies associated with KuCoin for allegedly failing to comply with local securities laws, setting the stage for further regulatory action against the cryptocurrency platform.The companies targeted by the OSC are Seychelles-based Mek Global Limited and Singapore-based PhoenixFin Pte. Ltd. Collectively, the companies operate KuCoin, one of the world’s....
The Canadian Securities Administrators will require crypto trading platforms to file an undertaking committing them to investor protections while their registration is in process. The Canadian Securities Administrators (CSA), the council of provincial and territorial securities regulators, announced Monday that crypto trading platforms will be expected to provide a preregistration undertaking to their principal regulators as they take steps to comply fully with securities regulation. Two platforms, Crypto.com and the Canadian platform Coinsquare Capital Markets, have already filed those....
KuCoin takes the lead in metaverse market fast-tracking as it launched a dedicated metaverse trading section on its official website amidst the ongoing NFT craze. The global KuCoin exchange has accelerated its integration into the rapidly growing mainstream blockchain-based gaming sector by introducing a specialized section on the trading venue that allows gamers and traders […]