Aggregated News From Investment Management Regulators

Beware of ongoing solicitations from Québecoin


Please complete the required fields.

The Autorité des marchés financiers (AMF) cautions Québec consumers about the current activities of Québecoin, which is being marketed as a cryptocurrency.

An AMF investigation has revealed that Québecoin, whose promoters appear to be located outside Canada, is soliciting investments in this cryptocurrency through, in particular, the website and social media profiles on Facebook, Twitter, Discord and Telegram. An analysis of the content posted on these platforms shows that Québecoin is making special a effort to recruit Québec investors.

Based on the evidence compiled over the course of the investigation, Québecoin’s ongoing activities constitute a securities offering and are therefore subject to the Securities Act. However, neither Québecoin nor its promoters are registered with the AMF in any capacity whatsoever. Moreover, they have never prepared a prospectus subject to a receipt issued by the AMF and do not benefit from an exemption.

Don’t become a victim

Offering investment opportunities via the Internet or social media or in person is a regulated activity. Any individual or firm promoting an investment product must be registered with the AMF or benefit from a registration exemption. To make sure you don’t fall victim to the type of approach described earlier, check whether the individual or firm is on the Register of firms and individuals authorized to practise.

The AMF issued a warning about initial cryptocurrency or token offerings in 2018. Today, it is reminding the public that cryptocurrencies are not issued by governments or central banks. In Québec, transactions involving crypto assets are therefore not covered by the Deposit Insurance Fund.

Have you done business with Québecoin? Contact the AMF Information Centre. You could help the AMF better protect consumers.

The Autorité des marchés financiers is the regulatory and oversight body for Québec’s financial sector.

This news item was originally published by the Financial Markets Authority (AMF CA). For more information, please see the Source Link.

Regulator Information

Regulator Name: Financial Markets Authority
Abbreviation: AMF
Jurisdiction: Canada

Recent Articles

Sanctions Notice – Myanmar — GFSC

Please be advised that the following individuals and entities: Win Kyaw Kyaw Aung Zaw Min Tun Asia Sun Trading Company Limited Cargo Link Company Limited have been designated under the Myanmar (San

Sanctions Notice – ISIL (DA’ESH) and AL-QAIDA — GFSC

Please be advised that Islamic State in Iraq and the Levant in South-East Asia has been designated under the ISIL (Da’esh) and Al-Qaida (Sanctions) (EU Exit) Regulations 2019 (the UK regulati

SFDR data collection exercise for investment fund managers (IFMs) on regulatory requirements in relation to Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial...

1. Context This Communiqué follows up on the CSSF communiqué published on 27 July 2022 announcing the intention of the CSSF to launch a data collection exercise...


We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary...

CVM accepts proposal for a term of commitment with the CEO of Clear Sale SA

This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content...

Get the latest from Regulatory.News in your inbox!