The British Columbia Securities Commission has imposed a temporary order against Vancouver-based Xeltox Enterprises Ltd., operating as Cryptomus, after obtaining evidence the platform may be breaching Securities Act registration requirements and operating as an unrecognized exchange. The order prohibits Cryptomus from trading in securities or derivatives and from engaging in promotional activities. The release reiterates that crypto asset trading platforms facilitating Canadians’ buying and selling of crypto assets must register with provincial or territorial securities regulators and comply with conditions intended to protect investors, and notes that a list of platforms authorized to do business with Canadians is available via the Canadian Securities Administrators. The temporary order expires on June 4, 2025, and the Executive Director may apply to a British Columbia Securities Commission panel to extend it.
British Columbia Securities Commission 2025-05-20
British Columbia Securities Commission issues temporary order restricting Cryptomus over suspected unregistered exchange activity
The British Columbia Securities Commission issued a temporary order against Xeltox Enterprises Ltd., operating as Cryptomus, for potential breaches of Securities Act registration requirements and operating as an unrecognized exchange. The order prohibits Cryptomus from trading in securities or derivatives and engaging in promotional activities. The Commission emphasizes that crypto asset trading platforms must register with provincial or territorial regulators to protect investors.