BCSC Warns Against Crypto Firm as Crackdown Gathers Steam in North America
- More than 40 state and provincial securities regulators in the US and Canada issued a series of crypto-related alerts.
The British Columbia Securities Commission (BCSC), one of the thirteen provincial financial regulators in Canada, has added Eyeline Trading, which facilitates trading in digital currencies, to its ever-growing Investment Caution List.
The BCSC became aware of Eyeline Trading after finding that the firm had solicited a British Columbia (BC) resident and opened a trading account for him, without authorization. The BCSC has, therefore, urged investors to use caution when dealing with this brand.
Eyeline Trading, operating online under the URL eyelinetrading.io, offers clients a range of crypto services including mining operations, wallet, Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. Read this Term, trading, and asset management solutions. A glance at the website in question also reveals that the brokerage provides no confirmation regarding licenses held in any jurisdictions either, which raises a red flag as far as investors are concerned.
NASAA Coordinates Crackdown on Crypto
Confronted with Canada's watchdogs intensifying scrutiny of crypto ICOs, many startups are moving their businesses to locations more welcoming such as Malta, Switzerland and Eastern Europe.
Dozens of entrepreneurs have already flocked to Zug, an affluent municipality in Switzerland, which hosted last year most of largest ICOs, raising a total of over $700 million.
As part of the crackdown, more than 40 state and provincial securities regulators in the US and Canada issued a series of consumer alerts to raise public awareness and urge caution when investing in token sales. In addition, nearly 70 inquiries and 35 ICO-related enforcement actions have been announced during the last three months.
The North American Securities Administrators Association (NASAA) is also conducting public outreach initiatives to warn investors in their jurisdictions of the risks associated with ICOs and cryptocurrencies.
Earlier this year, NASAA organized a task force to launch investigations into ICOs and cryptocurrency-related investment products. Those investigations have resulted in the enforcement actions against hundreds of initial coin offerings.
NASAA’s task force also found more than 30,000 crypto-related domain name registrations, the vast majority of which appeared in 2017 and 2018.
The British Columbia Securities Commission (BCSC), one of the thirteen provincial financial regulators in Canada, has added Eyeline Trading, which facilitates trading in digital currencies, to its ever-growing Investment Caution List.
The BCSC became aware of Eyeline Trading after finding that the firm had solicited a British Columbia (BC) resident and opened a trading account for him, without authorization. The BCSC has, therefore, urged investors to use caution when dealing with this brand.
Eyeline Trading, operating online under the URL eyelinetrading.io, offers clients a range of crypto services including mining operations, wallet, Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. Read this Term, trading, and asset management solutions. A glance at the website in question also reveals that the brokerage provides no confirmation regarding licenses held in any jurisdictions either, which raises a red flag as far as investors are concerned.
NASAA Coordinates Crackdown on Crypto
Confronted with Canada's watchdogs intensifying scrutiny of crypto ICOs, many startups are moving their businesses to locations more welcoming such as Malta, Switzerland and Eastern Europe.
Dozens of entrepreneurs have already flocked to Zug, an affluent municipality in Switzerland, which hosted last year most of largest ICOs, raising a total of over $700 million.
As part of the crackdown, more than 40 state and provincial securities regulators in the US and Canada issued a series of consumer alerts to raise public awareness and urge caution when investing in token sales. In addition, nearly 70 inquiries and 35 ICO-related enforcement actions have been announced during the last three months.
The North American Securities Administrators Association (NASAA) is also conducting public outreach initiatives to warn investors in their jurisdictions of the risks associated with ICOs and cryptocurrencies.
Earlier this year, NASAA organized a task force to launch investigations into ICOs and cryptocurrency-related investment products. Those investigations have resulted in the enforcement actions against hundreds of initial coin offerings.
NASAA’s task force also found more than 30,000 crypto-related domain name registrations, the vast majority of which appeared in 2017 and 2018.