The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

The Ontario Securities Commission (OSC) of Canada issued an announcement yesterday (21st), referring to Bybit, the world’s top five cryptocurrency derivatives exchange.
Operating an unregistered crypto-asset trading platform is suspected of violating the province’s securities regulations. A hearing will be held on 7/15.

According to the OSC announcement, as early as March 29 this year, the Commission had publicly required all companies to register under securities laws, and had also contacted Bybit on how to make exchanges comply with Ontario securities laws. However, it was not until April that Before the deadline on the 19th, no reply was received from Bybit.

The announcement also mentioned that because Bybit has been unable to submit a prospectus for legal operations in Canada to the OSC, and the tools and contracts provided by the exchange to investors are recognized as securities and derivatives by Canadian securities laws, the platform’s The transaction violated parts of the Ontario Securities Act and involved conduct contrary to the public interest.

“We have put in place a process for crypto-asset trading platforms to bring their operations into compliance with Ontario securities laws. Companies such as Bybit ignore this compliance process, exposing Ontario investors to unacceptable risks and putting their businesses at risk in crypto. The asset trading platform space has created an uneven playing field.”

The announcement mentioned,
A hearing in July will discuss solutions, including the possibility of limiting Bybit in the province to a specific period or even permanently halting trading and banning the acquisition of any securities. In addition, the OSC is proposing to impose administrative fines of up to C$1 million for each violation of securities laws.

**Crypto Exchange Regulation**

It is worth mentioning that Bybit was warned by the Japan Financial Services Agency last month for failing to complete its registration, making it the first warning issued by the Japan Financial Services Agency in the past three years. In February this year, Bybit was warned by the UK Financial Conduct Authority (FCA) for not completing registration, and then stopped operating in the UK a week later.

Last month, the exchange Poloniex also received the same warning from Canada, and another crypto exchange Kucoin also suffered a disaster earlier this month. The contents of the announcements were similar to the Bybit case, alleging that these exchanges failed to comply with the warning on April 19. Contacted securities regulators before the registration deadline, and then provided securities and derivatives to Ontario residents without registration, ignoring the province's securities regulations.