Canadian regulator BCSC warns against Canada Bitcoin Exchange Inc.

fma warning

Canadian securities regulator the British Columbia Securities Commission (BCSC) issued a warning against a suspicious entity named Canada Bitcoin Exchange Inc.

Canada Bitcoin Exchange Inc. (CBE) is operating via the website and claims to offer four “Investment Plans”, with returns ranging from 3,586% to 7,985% after 24 to 48 hours.

CBE, however, is not registered to trade in, or advise on, securities or exchange contracts in BC, commented the regulator.

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

Scam companies with “Investment Plans” are not hard to find today. LeapRate recently reminded of OneCoin, created somewhere in 2014 by the Bulgarian Ruja Ignatova, which was also supposed to be selling educational material for trading, but in the end appeared to be probably the largest Ponzi scheme in the “crypto” world.

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