Canadian Blockchain Company BitRush Ordered to Stop Trading by Securities Commission


Canadian Blockchain company BitRush, a Toronto-based FinTech company listed at the Canadian Stock Exchange with offices in London and Vienna, has been advised by the Ontario Securities Commission to cease all trading in, and all acquisitions of, securities of the company, whether direct or indirect. 

The order, a copy of which will be made public and available for review on the Canadian Securities Administrators website on Dec. 5, 2016, has been issued as a result of the company not having filed the required chief executive officer and chief financial officer certifications of interim filings, that should have been filed together with the interim financial statements of the company and related management’s discussion and analysis, for the nine months ended Sept. 30, 2016, as required by National Instrument 52-109 (certification of disclosure in issuers’ annual and interim filings).

The company has called a meeting of the board of directors to investigate the matter, and intends to file amended financial statements, MD&A and certifications as soon as possible to obtain the revocation of the cease trade order.

BitRush is a pioneering Canadian fintech company focused on cryptographic Blockchain technology. BitRush has chosen to go to the public markets as a start-up to allow all types of investors, from individuals to institutions, to participate in the potential value appreciation of a fintech company that otherwise would usually have taken place in the private markets accessible only to venture capitals and accredited investors.