Canadian regulator warns of illegal cryptographic investment plan
A financial regulator in the Canadian province of New Brunswick warned residents about investing in the so-called "cryptocurrency bank" and its associated token.
In a March 5 statement, the representatives of the Financial and Consumer Services Commission (FCSC) sounded the alarm about Bitcoin-bank.io, which according to its website promises a daily return on deposits through the use of a token "BTCB". The site significantly restricts the days on which the token in question can be bought or sold, indicating that the first "sale day" will not be until April 23.
According to the FCSC, the Bitcoin-bank offer is illegal.
"The commission took a close look at the website after realizing that cryptobank announced its investment opportunities in a Canadian online classified site," the regulator said in a statement. "Given that it is not registered to negotiate or advise on securities or derivatives in New Brunswick, it is illegal for Bitcoin-bank.io to carry out these activities in the province."
In addition, a California reclaimed address is false, the commission said when investigating the location, and that some of the marketing materials distributed by the promoters also contain fictitious information.
"The review also revealed that many of the photographs accompanying the team profiles on the website had been taken from other portals with false names attached, and that the content had been copied from other pages," the FCSC said.
The supposed cryptocurrency swindle is the last to take shape in Canada, which has seen a series of schemes soliciting investors in recent months.
Last year, Canadian police issued a warning about a Bitcoin tax scam, where scammers claiming to be part of the nation's Revenue Agency threatened about 40 jailed victims for unpaid taxes. Those victims were told to remove Bitcoin from a BTC ATM and send the funds to the scammers, and the police estimated that the victims sent $ 340,000 ($ 267,000).
Never thought I would see my province featured on Steem! Thanks for the article :)
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