Share
News Type
Warnings

Ellite Cryptominer is not licensed by the Financial Services Regulatory Authority of Ontario to conduct securities business

The Financial Services Regulatory Authority of Ontario (FSRA) is warning consumers that Ellite Cryptominer, a crypto currency exchange operating through https://www.ellitecryptominer.com, is not licensed by FSRA to conduct securities business in Ontario.

FSRA encourages consumers to exercise caution if they are contacted by the company or anyone claiming to represent Ellite Cryptominer.

Ellite Cryptominer is using a Financial Services Commission of Ontario (FSCO) logo and claims to be licensed by FSCO as a broker. Ellite Cryptominer was never licensed by FSCO, which FSRA replaced in June 2019. They also claim to be licensed by the Registrar of Companies for England and United Kingdom (UK).

FSRA does not license individuals or companies for conducting securities business in Ontario. This includes crypto currency exchanges that offer trading in securities. The Ontario Securities Commission (OSC) is primarily responsible for securities regulation across Ontario and the Financial Conduct Authority (FCA) regulates crypto currency exchange in the United Kingdom.

Ellite Cryptominer is not registered with the OSC or the FCA. If consumers engage in securities business through individuals or companies not registered with the OSC, they are not protected under Ontario’s Securities Act and its regulations that govern Ontario's licensed securities companies or cryptocurrency exchanges.

FSRA is continuing to work with those we regulate to ensure financial safety, fairness and choice for consumers and members. Learn more www.fsrao.ca.

For public inquiries:

Please email contactcentre@fsrao.ca

For media inquiries:

Serina Yau
Senior Advisor, Corporate Communications
C: 437-216-9534
Email: serina.yau@fsrao.ca

Share