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Source: Government of Saskatchewan

Released on December 29, 2020

The Financial and Consumer Affairs Authority (FCAA) is aware that an online trading platform, AquilaBIT, is offering Saskatchewan residents an opportunity to invest in cryptocurrencies, spot metals, energies, commodities, bonds and other securities through its online website.  David Hudson is allegedly the compliance person for AquilaBIT and is allegedly based in Toronto, Ontario.

Neither Mr. Hudson nor AquilaBIT are registered in any capacity with the FCAA.  Individuals or companies need to be registered with the FCAA in order to trade or sell securities or derivatives in Saskatchewan.

Websites of Subject:  www.aquilabit.com

Tips to protect yourself:

  • Always check the registration of the person or company selling or advising about securities or derivatives.  To check registration visit The Canadian Securities Administrators’ National Registration Search (https://www.securities-administrators.ca/nrs/nrsearchprep.aspx).     
  • Know exactly what you are investing in.  Make sure you understand how the investment, product or service works.
  • Get a second opinion and seek professional advice about the investment.

If you have invested with AquilaBIT, contact the FCAA’s Securities Division at 306-787-5936. 

For more investor protection information visit https://fcaa.gov.sk.ca/consumers-investors-pension-plan-members/investors.

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For more information, contact:

Shannon McMillan
Financial and Consumer Affairs Authority of Saskatchewan
Regina
Phone: 306-798-4160 
Email: shannon.mcmillan@gov.sk.ca

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