Bybit, KuCoin each fined more than C$2 million in Canada for securities compliance failures

The Ontario Securities Commission (OSC) has conducted two successful enforcement actions against Bybit and Kucoin.

The market regulator said in June 22 release that both exchanges failed to comply with the Ontario securities law by operating unregistered trading platforms.

KuCoin is required to pay C$2 million and is permanently banned from Ontario’s capital markets.

Bybit responded to the enforcement action and reached a settlement with the OSC. The exchange is ordered to pay a C$2.5 million penalty and is taking steps to comply with Canadian securities law.

More details to follow.

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