Alberta crypto trader sanctioned, shut down for violating securities laws

From February 2021 to November 2022, Edwards and KB Crypto raised nearly US$450,000 from 75 investors by entering into investment contracts in which the respondents used investors’ funds to purchase and trade in contracts for difference (CFDs),” said the ASC. “The respondents did not file a prospectus for the investment contracts and did not seek to rely on any prospectus exemptions.” from acting as a director or officer of any issuer or advising in securities and derivatives. A 15-day halt to trading or purchasing securities or derivatives could have expired on Jan. 5 but was extended for a further 12 months, with the ASC also commencing an investigation into the security breach that’s suspected to have occurred internally.