By Elise Hansen (June 22, 2022, 9:33 PM EDT) — Ontario’s securities regulator said Wednesday it banned cryptocurrency exchange KuCoin from operating in the Canadian province and fined cryptocurrency trading platform Bybit Fintech Ltd. about $2.5 million for allegedly failing to register its platform with the commission.
KuCoin did not respond to the Ontario Security Commission’s probe and was hit with a permanent ban on serving Ontario users, the OSC said. Bybit did cooperate and has committed to bring its platform in line with securities laws or else withdraw from the province.
The decision against KuCoin entities Mek Global Ltd. and PhoenixFin Pte. Ltd. is dated Tuesday, while the Bybit settlement…
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