Decisions and Freeze and cease trade orders Securities
Montréal, February 7, 2019 – On February 4, 2019, further to a request from the Autorité des marchés financiers (the “AMF”), the Financial Markets Administrative Tribunal (the “Tribunal”) issued conservatory orders against Crypto Technologies Inc. (carrying on business as Make It Mine), David Fortin-Dominguez and Samory Proulx-Oloko for failures to comply with the Securities Act.
“In its decision, the Tribunal ruled for the first time that an investment offer related to cryptocurrency mining may constitute an investment contract—that is, a security whose distribution to the public is regulated,” said Jean-François Fortin, Executive Director, AMF Enforcement. “We urge investors who have had dealings with the respondents to quickly contact the AMF so we can identify and assist them.”
Among other things, the Tribunal issued cease-trade orders against the respondents.
The Tribunal also ordered the respondents not to directly or indirectly dispose, and to safeguard and maintain the integrity, of any device, equipment or machine in their possession that is used for the purpose of cryptocurrency mining.
Call to investors
The AMF is pursuing its investigation in this matter. Anyone who has invested money with the respondents is therefore asked to contact Ms. Hélène Guilbault at 1-877-525-0337, ext. 2427, no later than February 28, 2019.
The Autorité des marchés financiers is the regulatory and oversight body for Québec’s financial sector.
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