The Ontario Securities Commission (OSC) has filed a lawsuit against the cryptocurrency exchange Poloniex. The regulator accuses the platform of unregistered trading of securities and derivatives.<\/p>\n
In March, the Canadian securities regulators ruled<\/a> that firms trading digital assets within the country must register as investment dealers.<\/p>\n In the same month, the OSC ordered<\/a> cryptocurrency exchanges in Ontario to contact agency officials by April 19 to avoid potential enforcement actions.<\/p>\n Seventy platforms approached the regulator, a quarter of which are based outside the country. Poloniex was not among them. Canadian regulators have registered only one crypto dealer.<\/p>\n The exchange faces a substantial administrative fine and other sanctions, up to a temporary or permanent ban on trading securities. The first hearing is set for June 18.<\/p>\n Earlier, the OSC approved Bitcoin ETFs from Purpose Investments<\/a> and Evolve Funds Group<\/a>, as well as the joint product CI Global Asset Management and Galaxy Digital's Mike Novogratz<\/a>.<\/p>\n Soa 20210525 Polo-digital<\/a> by ForkLog<\/a> on Scribd<\/p>\n