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ARTICLE · 06 SEPTEMBER 2019

Ontario Securities Commission And CoinLaunch Settle Regarding Unregistered Activities

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On July 24, 2019, the Ontario Securities Commission (the "OSC") approved a settlement agreement with CoinLaunch Corp. ("CoinLaunch"),

CanadaCorporate/Commercial Law
Daniel Fuke
Daniel Fuke
Andrew Gunpat
Andrew Gunpat
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On July 24, 2019, the Ontario Securities Commission (the "OSC") approved a settlement agreement with CoinLaunch Corp. ("CoinLaunch"), a provider of various ICO-related services in the crypto industry. Following an investigation by the OSC, it was determined that CoinLaunch engaged in and held itself out as engaging in the business of trading in securities, without registration under Ontario's Securities Act (the "Act").

As a result of the investigation and resulting settlement, CoinLaunch was subjected to fines and repayments of approximately $50,000, and is prohibited from acquiring or trading in any securities or derivatives for five years. In addition, CoinLaunch's former CEO, Reuven Cohen, agreed not to act as a director or officer of any unregistered company which engages in the business of trading in securities.

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