The Investment Industry Regulatory Organization of Canada (IIROC) issued a warning on Aug. 13 to Canadian investors about Cryptlogger.
Through its website, the company falsely claims to be an IIROC-regulated crypto-asset management and investment company, says the regulator.
IIROC adds that investors should be aware that crypto-asset trading platforms, even if they call themselves an exchange, are not the same as regulated marketplaces and may be missing key investor protections.
“IIROC-regulated investment firms and individuals must meet our 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,” says the regulator.