OSC Cautions Investors about 13 Non-Registered Firms
The Canada-based Ontario Securities Commission (OSC) has cautioned the investors that thirteen firms are non-registered within the region in the case of dealing or advising related to the securities within the jurisdiction. The securities regulator asserted that even if an individual or entity from among the respective companies persuades the investors they should not have any with them because their operations would not be considered legal and there is a chance of risk.
Canada-Based OSC Warns Investors about 13 Non-Registered Crypto Firms
The Securities Commission moved on to mention the name of the respective non-registered venues and named Cryptos-Circus, 24xForex, Interactive Global, Globals X-Trade or Globals XTrade, Cryptos-Seed Limited, Bitfinexfxtradeoption.com, Binexo.io, Ciscorp Trade & Investments, KubCoins.io or KubCoin, Phoenixfin Pte. Ltd., KuCoin, 24Trading, Grey Matter Enterprise Ltd., FXPoint Trading, MEK Global Limited, DGTL, Phoenixfin Pte. Ltd., to be included in the respective list.
A week ago, Crypto.com turned into the 1st crypto exchange in the world to ink a chief agreement with the Securities Commission of Ontario. The exchange that has advanced during the previous couple of years has carried out prominent collaborations and contracts. Furthermore, it declared having obtained a Pre-registration Undertaking in Canada under the OSC, known as a regulatory move known throughout the country through the Canadian Securities Administration (CSA).
Crypto.com Inks Pre-Registration Contract with OSC
According to the terms included in the pre-registration undertaking, Crypto.com is permitted to operate in line with the regulator. Furthermore, the chief of the points is regulatory compliance, indicating that the products and services would be provided by the exchange to the consumers that are within the jurisdiction of Canada, as elaborated by the press release. Kris Marszalek, the CEO of Crypto.com, remarked on the agreement and mentioned that it was included in the compliance endeavors of the venue.
As per him, the latest move will assist them to facilitate the North American consumers in a better way. In addition, there is a lot of potential in the market of North America (especially Canada) in the case of crypto development. Furthermore, the executive expressed to be operating with CSA and OSC and offer a reliable, safe, and protected venue to the consumers in Canada to trade across the globe.
The rest of the elements added to the OSC contract take into account the registration with Canada’s Financial Transaction and Reports Analysis Center (FINTRAC) and Quebec’s Autorité des marchés financiers (AMF).
