Paxful, Inc. claims to be based in the United States, and offers an online cryptocurrency trading platform that British Columbia (BC) residents can use to trade in cryptocurrency.
A cryptocurrency trading platform may be required to be recognized as an exchange under section 25 of the Securities Act (the Act) or registered as a dealer under section 34 of the Act. Paxful, Inc. has not been recognized as an exchange or registered as a dealer in BC.
We urge BC residents to exercise caution when dealing with cryptocurrency trading platforms that have not been recognized or registered by the BCSC.
For information on how to become better informed about investment products and services, please visit InvestRight at https://www.investright.org.