Crypto exchanges may be violating the law says Ontario regulator

Canada North America Regulations

Several cryptocurrency exchanges are under the investigation from the Ontario Securities Commission (OSC) in Canada, according to which, they may be breaking existing laws which require marketplaces to comply with exchanges and alternative trading systems rules.

“If an exchange is doing business in a jurisdiction of Canada, it must apply to that jurisdiction’s securities regulatory authority for recognition or an exemption from recognition.” A spokesperson for the commission said.

In its recent statement, the OCS pointed to cryptocurrencies and ICOs as some of its priorities for the next 12 months.

About the author

Mark Knowles

Mark Knowles

Coinlaw Multi-Jurisdiction Blockchain News
Mark Knowles is the Executive Editor of coinlaw.io
With more than a decade of experience as a journalist and editor, Mark has now turned his focus to the blockchain and cryptocurrency revolution that is currently reshaping the global economy. As Executive Editor at Coinlaw Mark is working to create a website that is a hub for the international crypto community to find the latest legal news, legislative changes and expert opinion from across the industry. Contact him at [email protected] or through mobile on +66 (0) 98 705 2716.

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