OSC published a list of 13 firms targeting Ontario residents despite not being licensed, and for the second time this month, KuCoin is on the list.
Seeking to protect users from buying more assets than their financial positions can handle, one Canadian exchange has limited annual limits, with BTC and ETH exempted.
The OSC listed KuCoin, FX-BTC Trade, and others in its latest warning list of firms targeting Ontario residents even when they are not licensed to operate.
The Ontario securities watchdog also slapped a $1.9 million fine on Bybit, claiming that the two operated unregistered digital asset trading platforms in the province.
Bitfinex didn’t reveal the reason for the sudden departure, but it advised Ontario users to withdraw their assets by March 1 before their accounts are closed permanently.
In Canada, the Ontario securities regulator announced that Binance wasn’t authorized to offer services in the province; meanwhile in India, WazirX exchange was accused of evading of $5 million in taxes.