Canadian regulator BCSC warns against Forex and cryptocurrency firm Blue Trading

BCSC warning

Canadian securities regulator the British Columbia Securities Commission (BCSC) just announced that it has become aware of a suspicious entity, Blue Trading (the Company), claiming to be a full service managed account trading firm that offers trading in Forex, commodities and cryptocurrencies.

The regulator recently became aware of Blue Trading and that it made an unsolicited offer to a British Columbia (BC) resident to trade with the Company.

Blue Trading

Address: 6-2-30 Roppongi, Roppongi Hills Tower, Minato-ku, Tokyo 100-0032, Japan

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.

The Company is not registered to trade in, or advise on, securities or exchange contracts in BC and has not filed a prospectus or an exempt distribution report in BC.

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

The official warning can be seen here.

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