Bybit Under Watchful Eye of Canadian Securities Regulator

Last Updated: June 23, 2021

Bybit, a futures trading platform, has been accused of running a cryptocurrency platform that is unregistered in Ontario. The regulator explained that Bybit is running a cryptocurrency asset trading platform and asking customers in
Jason

Jason

Hi! I'm the editor at EarthWeb. I have a deep interest in technology and business. I also enjoy testing products out. Contact me to be featured!
Bybit Under Watchful Eye of Canadian Securities Regulator
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Bybit, a futures trading platform, has been accused of running a cryptocurrency platform that is unregistered in Ontario. The regulator explained that Bybit is running a cryptocurrency asset trading platform and asking customers in Canada to trade their cryptocurrency assets through the platform.

bybit

The action being taken against Bybit is similar to one that was taken against KuCoin earlier this month. It is a stark reminder that cryptocurrency trading platforms based in Canada need to make sure that their operations are compliant with securities law, otherwise they could potentially face regulatory action.

Potential consequences could include a penalty of no more than $1 million.

Written by Jason

Hi! I’m the editor at EarthWeb. I have a deep interest in technology and business. I also enjoy testing products out. Contact me to be featured!

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