OSC raises awareness about fraudulent cryptocurrency-related investment schemes

The Ontario Securities Commission (OSC), in conjunction with securities regulators from the North American Securities Administrators Association (NASAA), has announced that it has recently participated in an initiative to raise awareness about fraudulent and unregistered cryptocurrency-related investment schemes.

As part of “Operation Cryptosweep,” the OSC joined forces with more than 40 provincial and state regulators in North America to warn investors about schemes involving cryptocurrency-related investment products.

Operation Cryptosweep contributes to our ongoing efforts to raise awareness about potentially fraudulent activity involving cryptocurrency products,” said Leslie Byberg, Executive Director and CAO of the OSC. “To avoid investment fraud, investors should always check that they are dealing with a registered individual or firm, and should carefully consider the risks associated with investing in this novel space.

Investors can view warnings and alerts about cryptocurrency-related investment schemes on the OSC’s website.

Read Also: