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Screenshot of a breaking news alert e-mail from Q2 2017
Canadian securities regulator the British Columbia Securities Commission (BCSC) has added to its Investment Caution List bitcoin Binary Options broker 332option and B.I.S. Blueport Investment Services Ltd. (BIS).
332option claims to be licensed by the Cyprus Securities and Exchange Commission under the name BIS, and offers an online binary options trading platform.
A binary option is a type of option whose payout depends on whether the underlying asset (such as a stock, a commodity, a currency pairing, etc.) increases or decreases in value. Options are considered to be securities under the securities legislation in British Columbia (BC).
The Parties are not registered to trade in, or advise on, securities or exchange contracts in BC.
BCSC has urged 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.