XT.com & CoinEx

Blocking of the XT.com and CoinEx platforms

The AMF instituted legal proceedings to shut down the activities of the XT.com and CoinEx platforms in Canada (see history below). In May 2025, the Superior Court of Québec ordered access to the platforms to be blocked in Canada. Blocking of the platforms will be implemented in August 2025.

Investors are advised to withdraw their funds as soon as possible, before access to the platforms is blocked. They may transfer their funds to a platform registered with the AMF.

Notice to Canadian investors to withdraw their assets

In May 2025, the AMF obtained injunctions from the Superior Court of Québec compelling Canada’s main telecommunications companies to block access to the XT.com and CoinEx websites.

Canadian investors have 60 days following the expiry of the appeal period to access their accounts and withdraw their assets before the platforms are blocked. In summary:

  • Blocking of the XT.com platform will be implemented in Canada between August 6 and August 20, 2025. After this date, it will no longer be possible to access the platform. Investors are advised to withdraw their funds as soon as possible. 
  • Blocking of the CoinEx platform will be implemented in Canada between August 12 and August 26, 2025. Again, investors are advised to withdraw their funds as soon as possible. 

Permanent injunctions orders

XT.com

The Autorité des marchés financiers (AMF) advises the public that, on April 23, 2025, it obtained a permanent injunction from the Superior Court of Québec (Superior Court) ordering Canada's main telecommunications companies to block access to the websites of XT.com’s cryptoasset trading platform (Court File No. 500-11-064818-244 (pdf - 306 KB)This link will open in a new windowUpdated on April 23, 2025).

The Financial Markets Administrative Tribunal, by a decision dated September 20, 2023, had already ordered this platform to block access to its websites. It also ordered it to inform platform users that the websites would cease to be accessible to them and that they should therefore withdraw any assets they had on the platform and close their accounts as soon as possible. XT.com did not comply with this decision.

The permanent injunction issued by the Superior Court is final.

As such, Canadian investors who still have assets on the XT.com platform must access their accounts and withdraw their assets before access to the platform is blocked.

Be advised that the platform blocking will be implemented between August 6 and August 20, 2025.

CoinEx

The Autorité des marchés financiers (AMF) advises the public that, on April 23, 2025, it obtained a permanent injunction from the Superior Court of Québec (Superior Court) ordering Canada’s main telecommunications companies to block access to the websites of CoinEx’s cryptoasset trading platform (Court File No. 500-11-064819-242 (pdf - 311 KB)This link will open in a new windowDemande d'injonction permanente).

The Financial Markets Administrative Tribunal, by a decision dated November 14, 2023, had already ordered this platform to block access to its websites. It also ordered it to inform platform users that the websites would cease to be accessible to them and that they should therefore withdraw any assets they had on the platform and close their accounts as soon as possible. CoinEx did not comply with this decision.

The permanent injunction issued by the Superior Court is final.

As such, Canadian investors who still have assets on the CoinEx platform must access their accounts and withdraw their assets before access to the platform is blocked.

Be advised that the platform blocking will be implemented between August 12 and August 26, 2025..

Regulation of cryptoasset trading platform

To operate legally in Canada, such platforms must be registered with the securities regulators of the provinces and territories where they are accessible. The AMF, Québec’s securities regulator, maintains a list of platforms registered in Québec.

XT.com and CoinEx are separate and distinct cryptoasset trading platforms and are not on the list. They are therefore not authorized to offer cryptoasset trading services in Québec.

Insight

Using registered platforms to trade cryptoassets reduces the risk of fraud, as such platforms are required to comply with rules intended to protect investors.

Find out more about Cryptoassets.

End of the insight

Administrative penalties and website takedown orders (fall 2023)

On September 20, 2023, pursuant to legal proceedings from the AMF, the Financial Markets Administrative Tribunal (Tribunal) imposed a monetary administrative penalty of $2 million on the operators of XT.com and ordered its website to be taken down, thereby banning the platform from Québec’s financial markets.

On November 14, 2023, in a separate case, the Tribunal imposed an administrative penalty of $2 million on CoinEx and its founder and ordered its website to be taken down, as well.

These takedown orders are now in effect across Canada.

Investor warnings

You can also refer to our full list of investor warnings about websites, companies and individuals whose activities are high-risk.

AMF new releases about XT.com

AMF new releases about CoinEx

Information

Questions?

Contact our Information Centre:

  • Québec city: 418 525-0337
  • Montréal : 514 395-0337
  • Toll-free : 1 877 525-0337
End of the Information