The Ontario Securities have circulated a warning against five unlicensed crypto companies. The firm involved in schemes are boosting investors to trade or invest in cryptocurrencies. The regulator begun gathering information about the platform which receive complaints on it.
Ontario Securities Commission
Ontario Securities claims as follows “Bctcreal, Bitserial, Hypercube Ventures LP, Cabincoin OU and Baappay Inc are not registered in Ontario. It seeks to invest or provide advice on investing for buying or selling securities.”
On Friday, Ontario Securities Commission have come up with a trader Alert. It warns the community of five firms which surface in the strategies involved in Ontario traders. It encourages and boosts trades to invest or trade in cryptocurrencies.
The commission began collecting facts on several crypto trading platform . The system which nonce digital currencies ensembles the definition of securities. It determines the marketplace and these marketplaces are demanded to adhere with the polices which govern exchange or different investing units.
Recently, OSC issued a Trader Notice on Bitconnect, Bitconnect Coin and the BCC exchange. Bitconnect, the BCC trade and associates of Bitconnect are not registered in Ontario. It doesn’t solicit investments or deliver advice on investing or providing securities as per regulators.
Warning issued on the firms
The company edged in the warning given on Friday. The company asserts to provide total expense expert services for cryptocurrency-associated investments and trade. It assures investors to provide high returns in a limited period of time says OSC. The companies endorse 6 high ROI (Return on Investment) Plans.
The firm warned Bitserial which claims to offer opportunities and invest in BTE tokens. The organization encourages investors to participate in a lending program to exchange Bitcoin, Litecoin or Ethereum for BTE tokens. These coins lent out for higher returns the commission states.
The next firm is HyperCube Ventures LP. It maintains multiple websites to embolden investors to purchase emission pools. After purchasing emission pools, user can generate VNN Cryptocurrency as per OSC.
The upcoming firm is Cabincoin OU. Currently, it advertises on an unregistered token sale for Cabincoin tokens. These tokens allege that the future value of these tokens will exceed their initial value says OSC.
Baappay Inc. is the last firm mentioned in the list. This platform integrates fiat and cryptocurrency payment services for merchants. Ontario Service Commission asserts that firm is endorsing an unregistered token sale. This confirms and assures all the transaction to be proceed in seconds.