The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by claims made by a crypto asset firm known as liquidityswap.
On its website, the company falsely claims to be an IIROC-regulated crypto-asset trading platform.
In a news release, IIROC says certain crypto-assets have generated a lot of hype but investors must take care. “All investors must be informed and ask themselves important questions before purchasing higher-risk investment products that do not trade on stock exchanges. Investors should know that crypto-asset trading platforms are not the same as regulated marketplaces and may be missing key investor protections.”
IIROC-regulated investment firms and individuals must meet high standards and deal fairly, honestly and in good faith with Canadian investors. “We urge Canadian investors to exercise caution when dealing with non IIROC-regulated firms.”
Investors can check whether an investment firms are registered with IIROC or the Canadian Securities Administrators (CSA).