Ontario regulator fines Bybit and bars Kucoin in continued fight against unregistered crypto exchanges

6/23/2022 5:30:00 AM

The Ontario Securities Commission sees more courtroom wins against unregistered crypto exchanges.

ICYMI: Ontario regulator fines Bybit and bars Kucoin in continued fight against unregistered crypto exchanges

The Ontario Securities Commission sees more courtroom wins against unregistered crypto exchanges.

The BlockThe Ontario Securities Commission has scored more courtroom wins against unregistered crypto exchanges.In two legal proceedings finalized on June 21 and 22, the OSC has barred Kucoin from Ontario and settled with Bybit, which has committed to working with the OSC to register its platform.

As part of the decisions, the regulator is fining Kucoin CAD$2,096,550.35 (USD$1,621,597.83). Bybit has apparently already disgorged CAD$2,468,910 (USD$1,909,603.13) of its proceeds to the regulator, which is fining the exchange another CAD$10,000 (USD$7,734.60) to pay for its investigation.

Read more:
The Block »

Pro-abortion rights HS group in Tucson plans next steps in abortion rights advocacy

Lily Mcgrath, Chiara Mery and Helene Saleska aren’t old enough to vote yet, but they use their Instagram page to plan events and bring awareness for their reproductive rights club. Read more >>

They offered not bad usdt lending rates back in time...

BTC Markets becomes first Australian crypto firm to get a financial services licenseAustralian crypto exchange BTC Markets is the first digital assets platform to gain an Australian Financial Services (AFS) license from the country’s regulator after a two-year-long wait. It's not really easy to regulate crypto, of course with usdt there's no problem

Crypto exchanges hit by Cloudflare web outageAn issue with Cloudflare has brought several crypto exchanges to a halt. People, we need to tell everyone about this! Time to migrate to dCDN. Check Media Network. Can’t even read the article lol

Coinbase Phasing Out ‘Pro’ Exchange for ‘Advanced’ Mode in Main AppNEW: coinbase will ditch its standalone “Coinbase Pro” exchange in favor of “Advanced Trade,” a similar service under the main app. realDannyNelson reports coinbase realDannyNelson should probably integrate tradingview coinbase realDannyNelson Crazy. What happens to the crypto if you dont move it? Do the auto consolidate the positions? I have both. coinbase realDannyNelson Dumb

European Crypto Unicorn Bitpanda Is Now Regulated in Spain.bitpanda is now a registered crypto asset service provider in Spain. The Austrian exchange was added to the BancoDeEspana registry earlier this month. By iamsandali bitpanda BancoDeEspana iamsandali Pandas are owned by the Chinese government CryptoCommunity bitpanda BancoDeEspana iamsandali Congratulations bitpanda! 🇦🇹🤝🇪🇸 bitpanda BancoDeEspana iamsandali I'd like to know how many people there use usdt often

FTX US is acquiring equities clearing startup Embed FinancialCrypto exchange FTX US is acquiring equities clearing firm Embed Financial to enhance its newly-launched stocks trading offering. Yogita_Khatri5 These guys are not sleeping! Yogita_Khatri5 ftx ftx sell my position at 21000$ even if my liq price is 20417 They stole my only remaining 78$ you cant market sell my position without my intention My estimated liq price=20417 but ftx market sell at 21000 ftxhelpsbf

FTX US acquires Embed Financial subsidiary for stock trading platformCrypto exchange FTX's U.S. subsidiary said it will purchase Embed Financial Technologies and its subsidiary, clearing firm Embed Clearing, for an undisclosed amount “pending satisfaction of customary closing conditions and regulatory approval.” I can’t think of a publication that vets stories less and has less credibility. I only follow as a cautionary tale

by The Block The Ontario Securities Commission has scored more courtroom wins against unregistered crypto exchanges.An Australian Financial Services (AFS) license allows the holder to give advice, deal in, and create a market for a financial product.OKX also tweeted about the issue.Crypto exchange Coinbase (COIN) said Wednesday it will phase out its trader-focused “Coinbase Pro” in favor of “Advanced Trade,” a similar exchange service that unlike Pro lives alongside Coinbase’s other crypto investment products.

In two legal proceedings finalized on June 21 and 22, the OSC has barred Kucoin from Ontario and settled with Bybit, which has committed to working with the OSC to register its platform. As part of the decisions, the regulator is fining Kucoin CAD$2,096,550. While crypto and digital asset companies don’t require an AFS to provide services due to the lack of regulation in the country , BTC Markets says the move allows it to more closely bridge the gap between traditional finance and crypto while offering new products to its customers.35 (USD$1,621,597. At approximately 3 a.83). BTC Markets has certification from the International Organization for Standardization (ISO) for information security management and is certified by the country’s crypto industry body , Blockchain Australia. Bybit has apparently already disgorged CAD$2,468,910 (USD$1,909,603. Perhaps the biggest result of the move will be more accessibility for retail traders who were unaware that they could often find cheaper fees on Pro, which uses a different URL and has a standalone app.

13) of its proceeds to the regulator, which is fining the exchange another CAD$10,000 (USD$7,734. Related: Binance Australia CEO: Regulations will establish higher standards in crypto BTC Markets has established itself as a key player in the Australian crypto industry with $US4.” Beyond crypto, such as Discord, DoorDash and Social Blade have also been affected.60) to pay for its investigation. In its announcement, the OSC noted:"Unlike KuCoin, Bybit responded to the OSC’s enforcement action, maintained an open dialogue, provided requested information, and committed to engaging in registration discussions. In February, the exchange signed a deal with the stock market trading platform SelfWealth to offer SelfWealth users access to trade Bitcoin (." The move is part of a string of actions the OSC has . More by Ryan Weeks.