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Settlement approved for unregistered crypto trading platform, including $2.4M USD disgorgement and business wind-down.
Staff of the Ontario Securities Commission alleged that the respondent operated an unregistered crypto asset trading platform, breaching registration and prospectus requirements.
The parties reached a settlement agreement wherein the respondent admitted the breaches, agreed to disgorge $2,468,910 USD in revenue, pay $10,000 CAD in costs, and wind down its Ontario business.
The Capital Markets Tribunal approved the settlement, finding it in the public interest given the respondent's cooperation, full disgorgement, and the avoidance of a contested hearing.
