The Ontario Securities Fee (OSC) has performed two profitable enforcement actions towards Bybit and Kucoin.
The market regulator mentioned in June 22 launch that each exchanges didn’t adjust to the Ontario securities legislation by working unregistered buying and selling platforms.
KuCoin is required to pay C$2 million and is completely banned from Ontario’s capital markets.
Bybit responded to the enforcement motion and reached a settlement with the OSC. The alternate is ordered to pay a C$2.5 million penalty and is taking steps to adjust to Canadian securities legislation.
Extra particulars to observe.
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