Canadian regulator BCSC warns against cryptocurrency company Cryp Trade Capital Holdings

BCSC warning

Canadian securities regulator the British Columbia Securities Commission (BCSC) has added to its Investment Caution List unregulated cryptocurrency company, named Cryp Trade Capital Holdings SL. The company is operating at

Cryp Trade Capital Holdings SL (Cryp Trade) claims to be located in Alicate, Spain, and offers an online cryptocurrency trading platform and cryptocurrency investment portfolios.

BCSC has recently became aware of Cryp Trade and found its advertisements targeting British Columbia (BC) residents.

Cryptocurrencies are a subset of digital currencies. Cryptocurrencies are not fiat currencies. In certain circumstances, cryptocurrencies may be considered to be securities under the securities legislation in BC, and trading in or advising on them may require registration in BC.

Cryp Trade is not registered to trade in, or advise on, securities or exchange contracts in BC.

BCSC urges BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.

The official warning can be seen here.

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