Canadian regulator alleges OKEx operator violated securities law
Cointelegraph
Published Aug 19, 2021 05:10PM ET
Updated Aug 20, 2021 07:00PM ET
The Ontario Securities Commission claimed Aux Cayes FinTech Company Limited, a legal entity in the Republic of Seychelles that operates crypto exchange OKEx, has failed to comply with the province’s law governing securities.
In Wednesday's notice, the Ontario Securities Commission, or OSC, alleged that Aux Cayes may have engaged in illegal activity and could face regulatory action if it fails to cooperate with authorities. According to the OSC, the crypto asset products offered through OKEx are considered securities and derivatives, and subject to the Ontario securities law. The regulator claims Aux Cayes has failed to comply with the region’s registration and prospectus requirements.
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Written By: Cointelegraph
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