Ben Zhou, co-founder and CEO of Bybit in a statement noted that:
“We appreciate the OSC’s efforts in protecting Ontario investors and look forward to cooperating with the OSC in all respects in the registration process.”Cointelegraph reached out to Bybit for additional comments but did not receive a response by press time. This story will be updated as more information becomes available.
Related: Canadian regulator takes enforcement actions against Bybit and KuCoin
The decision by the regulator was the latest in a string of warnings and legal actions taken against crypto exchanges that provide services to Ontario consumers. In March 2021, the OSC issued a deadline for crypto firms operating in Ontario to register with the province’s securities laws by April. Ontario has eight registered cryptocurrency trading platforms, including Fidelity Digital Assets, Bitvo, and Bitbuy, as of June 1.
The information contained in this post is for general information purposes only. The information with the title Bybit enters into settlement agreement with Ontario Securities Commission was provided by one of our contributing author on
TmZ.NG, and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.