Canadian regulator takes enforcement actions against Bybit and Kucoin

The Ontario Securities Commission, or OSC, issued financial penalties against Bybit and Kucoin, claiming violations of securities laws and operating unregistered crypto asset trading platforms.

In a Wednesday announcement, the Ontario regulator said it had obtained orders fining Kucoin more than $1.6 million and banning the exchange from participating in the province’s capital markets. In a separate decision, the OSC announced that Bybit had disgorged roughly $2.4 million and paid the…

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