Canada: Issued BCSC’s findings following investigation into LiquiTrade for allegedly engaging in derivatives trading without registration

On 3 July 2024, the British Columbia Securities Commission (BCSC) concluded that LiquiTrade, a company operating the cryptocurrency trading platform LATOKEN since 2020, facilitated derivatives transactions without being registered and ran an illegal exchange in British Columbia. BCSC found that LiquiTrade promoted derivatives without registration while operating an exchange without authorisation. BCSC will consider sanctions in the future, which could include monetary penalties or bans from market participation.