Poloniex News: The Ontario Securities Commission accuses Poloniex of failing to comply with legal regulations. The stock exchange was asked to meet with the agency until April 19.
Striking claim about Poloniex
The Canadian Ontario Securities Commission said Poloniex had failed to debate regulatory compliance and would therefore hold a session on the issue on June 18th. The Canadian Ontario Securities Commission [OSC] issued a notice stating that the Poloniex exchange violated securities laws, among other violations.
Poloniex in Seychelles was asked to meet with the agency until April 19 to ensure that it fully complies with national securities laws. The exchange did not do this, so the OSC proceeded with the filing. The first request was made because Poloniex maintains business accounts for Ontario residents and offers itself to Canadians.
OSC is willing to ensure that crypto platforms comply with the law. The note put forward by the agency states that Poloniex is “responsible for ignoring the Ontario securities law” and also wants to point out that “crypto asset trading platforms that violate the Ontario securities law will face regulatory action.”
The regulator also said that Poloniex’s services are securities and derivatives.