Ontario Securities Commission(OSC), Kucoinissued another consumer warning to unregistered crypto platform users, including
The Ontario Securities Commission (OSC) has issued another consumer alert urging a number of crypto firms for not being registered to settle deals in the Canadian province.
Ontario Securities Commission Warns Against KuCoin
OSC, earlier this month Kucoin issued a similar warning, also calling . The new alert identifies 13 firms, most of them crypto businesses, as companies that are not registered to transact or advise on securities in Ontario. The fact that one of the companies on the list is a subsidiary of Kucoin did not escape the attention of users.
The Kucoin lawsuit comes as part of broader crypto crackdown following regulators’ 2021 decision to treat custody exchanges as securities exchanges, regardless of whether the traded assets are securities. Since then, OSC has pursued unregistered platforms.
As Kucoin weathers the storm, Kucoin CEO Johnny Lyutried to fend off rumors that suggested the company might stop withdrawals.
