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ARTICLE · 29 JUNE 2018

OSC Issues Investor Alert Regarding Unregistered Cryptocurrency Ventures

McCarthy Tétrault
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On May 18, 2018 the Ontario Securities Commission (OSC) issued a warning about five unregistered firms targeting Ontario investors that encourage them to trade or invest in cryptocurrencies.

CanadaTechnology
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SnIP/ITs Blog
Gianluca Mazzanti
Gianluca Mazzanti
Shauvik Shah
Shauvik Shah
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On May 18, 2018 the Ontario Securities Commission (OSC) issued a warning about five unregistered firms targeting Ontario investors that encourage them to trade or invest in cryptocurrencies.

The OSC stated that BTCReal, BitSerial, Hypercube Ventures LP, Cabin Coin OÜ, and BaapPay Inc. are not registered under Ontario securities laws and are not permitted to solicit investments or provide advice on investing in, buying, or selling of securities.

Furthermore, the OSC stated that Bitserial, Hypercube, CabinCoin and BaapPay have failed to comply with securities laws requirements that a prospectus, or alternatively, a prospectus exemption, be obtained prior to distributing securities to Ontario residents. The press release noted:

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