LocalBitcoins claims to offer an online cryptocurrency trading platform and we are aware that LocalBitcoins accepts British Columbia (BC) residents as clients.
A cryptocurrency trading platform may be required to be recognized as an exchange under section 25 of the Securities Act, RSBC 1996, c. 418 (the Act) or be registered as a dealer under section 34 of the Act. LocalBitcoins 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 in BC.
For information on how to become better informed about investment products and services, please visit InvestRight at https://www.investright.org.