James Langton
The crackdown on unregulated crypto trading in Canada has begun, with the Ontario Securities Commission (OSC) bringing allegations against a Seychelles-based firm for failing to heed the regulator’s warning to get registered.
On May 25, the OSC issued a statement of allegations against Polo Digital Assets, Ltd. (Poloniex), alleging that the firm is violating securities law in Ontario by operating an unregistered crypto trading platform that’s allowing Canadian investors to trade cryptoassets considered by regulators to be securities and/or derivatives.
The allegations have not been proven.
The OSC’s charges follow a warning issued by the Canadian Securities Administrators at the end of March that called on crypto trading platforms doing business in Canada to get registered with the Investment Industry Regulatory Organization of Canada. That warning gave firms until April 19 to contact regulators and start discussions on becoming compliant.
James Langton
The crackdown on unregulated crypto trading in Canada has begun, with the Ontario Securities Commission (OSC) bringing allegations against a Seychelles-based firm for failing to heed the regulator’s warning to get registered.
On May 25, the OSC issued a statement of allegations against Polo Digital Assets, Ltd. (Poloniex), alleging that the firm is violating securities law in Ontario by operating an unregistered crypto trading platform that’s allowing Canadian investors to trade cryptoassets considered by regulators to be securities and/or derivatives.
The allegations have not been proven.
The OSC’s charges follow a warning issued by the Canadian Securities Administrators at the end of March that called on crypto trading platforms doing business in Canada to get registered with the Investment Industry Regulatory Organization of Canada. That warning gave firms until April 19 to contact regulators and start discussions on becoming compliant.
In this file photo dated Monday, Dec. 16, 2019, Mark Carney, Governor of the Bank of England speaks at a Bank of England Financial Stability Report Press Conference, in London. File photo by The Associated Press/Kirsty Wigglesworth
Two Canadian investment leaders endorsed a transition to clean energy at a virtual Davos World Economic Forum on Wednesday as more investors worldwide push for concrete sustainability commitments.
Former Bank of Canada governor Mark Carney said that politicians can help markets finance the transition to zero-emission economies by setting credible forward commitments.
Canada’s carbon pricing plan is an example of a forward commitment, Carney said, since it would hike the federal tax to $170 a tonne by 2030 from $30