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ARTICLE · 19 AUGUST 2019

Crypto Traders Need To Register — OSC Takes Enforcement Action

Borden Ladner Gervais LLP
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Ontario Securities Commission approves settlement agreement with CoinLaunch Corp.

CanadaCorporate/Commercial Law
Carol Derk
Carol Derk
Julie Mansi
Julie Mansi
Sienne Lau
Sienne Lau
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On the heels of the Ontario Securities Commission's (OSC) spree of settlement agreements with international trading platforms, which have now totalled more than $10 million, the OSC has approved yet another settlement agreement with CoinLaunch Corp. (CoinLaunch). These actions show that novel products and overseas dealers are clearly within the enforcement reach of Canadian securities regulators.

Crypto consulting firm, CoinLaunch, violated Ontario securities laws by holding itself out as engaging in the business of trading in securities without dealer registration. As part of a settlement agreement with the OSC dated July 24, 2019, CoinLaunch will pay more than $50,000 in penalties, disgorgement and costs. CoinLaunch is barred from trading in any securities or derivatives, or from acquiring any securities, for five years. In the settlement agreement, the OSC put firms and individuals in the crypto-asset sector on notice that future violations of these

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