Recent OSC Actions

The Ontario Securities Commission (OSC) is stepping up its enforcement game, and the latest casualties are the crypto exchanges Bybit and KuCoin. In a dramatic Wednesday announcement, the regulator revealed that it had not only issued fines but also placed KuCoin on a timeout from the capital markets, all in the name of upholding securities laws.

Financial Penalties

Let’s talk numbers. KuCoin is feeling the heat with a financial penalty exceeding $1.6 million, while Bybit had to cough up around $2.4 million as part of a settlement. In addition, Bybit added an awkward $7,724 to the tab for investigational costs—definitely not a sweet deal for them.

Bybit’s Response (or Lack Thereof)

Interestingly, Bybit appeared to be more of a goody-goody in this scenario. They