Canadian securities regulators announce crackdown on unregistered cryptocurrency-trading platforms

Canadian securities regulators are planning to crack down on unregistered cryptocurrency-trading platforms, with the Ontario Securities Commission giving businesses three weeks to comply with its guidelines before it starts taking action.

Monday’s announcements from the OSC, the Canadian Securities Administrators and the Investment Industry Regulatory Organization of Canada come one week after The Logic reported there are now more than 600 companies that offer cryptocurrency-trading services in Canada that have not registered with securities regulators—although some may not be required to—and at least 11 that haven’t registered with the Financial Transactions and Reports Analysis Centre of Canada. There’s also no evidence any of them have faced penalties from Canadian authorities.

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