Canadian regulator uncovers another crypto scam

Canada North America Regulations

The Financial and Consumer Services Commission (FCSC) released a statement in which it warns investors about Bitcoin-bank.io  and its BTCB token and claims that the offer is illegal.

According to the statement, Bitcoin-bank.io is unregistered, hence prohibited from securities or derivatives trading or advertising. Moreover, advertising materials distributed by the company contain false information, including a fake address in California and fake profile photographs of the company’s team.

The commission advised potential investors to self-educate before committing money to any such offer.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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