Ontario Securities Commission (OSC), the Canadian Regulator has warned Investors of Five Cryptocurrency Firms. The Commission has stated these firms as unlicensed after receiving various complaints about them.
The Commission published an Investor Alert for investors on Friday which had names of five crypto firms that involved in schemes that targeted Ontario Investors and encourage them to trade or invest in cryptocurrencies.
Btcreal, Bitserial, Hypercube Ventures LP, Cabincoin OÜ, and Baappay Inc. are not registered in Ontario to solicit investments or provide advice on investing in, buying or selling securities.
After receiving various complaints on several trading platforms, the commission started gathering information about these firms. Any platform that offers users with crypto trading and functions related to crypto must meet with security requirements. These platforms are required to comply with the rules governing exchanges.
Last month OSC released an Investor alert on Bitconnect and various other exchanges. Here is the statement:
Bitconnect, the BCC Exchange and representatives of Bitconnect are not registered in Ontario to solicit investments or provide advice on investing in, buying or selling securities