Quebec’s AMF advises investors in Laboratoire Blockchain to contact regulator

Maria Nikolova

The business is now subject to freezing orders following a ruling by the Financial Markets Administrative Tribunal (TMF).

Quebec’s financial markets authority (AMF) is urging members of the public who invested money in Laboratoire Blockchain (also known as Blockchain Lab) to contact the regulator, as the entity and a number of individuals associated with it are now subject to freezing and injunctive orders.

Earlier in March, the Financial Markets Administrative Tribunal (TMF) has issued a raft of orders targeting Laboratoire Blockchain inc., Jonathan Forte, Benjamin Forte and Nicolas Barbasch-Bouchard over their violations of securities laws.

In particular, the TMF has prohibited the defendants to exercise all activities related to securities. Laboratoire Blockchain inc. was ordered not to dispose of any funds, including any cryptocurrencies in its possession, as well as any pieces of equipment, including ones used for cryptocurrency mining.

Furthermore, the defendants are ordered to withdraw all advertisements and publications related to Laboratoire Blockchain inc., including ones disseminated online and, in particular, via Facebook.

The AMF notes that it is currently conducting an investigation into this case. The regulator asks all people who invested money in Laboratoire Blockchain inc or by using the services of any of the defendants to contact Sarah Abi-Khalil via 1 877 525-0337, 2644, not later than April 1, 2019.

Let’s recall that, in a similar move in February this year, Quebec’s AMF urged investors in cryptocurrency mining firm Technologies Crypto Inc. to contact the regulator. Technologies Crypto, doing business as “Make it Mine” solicited at least $300,000 from investors advising them the money would be used for cryptocurrency mining. Some investors managed to get their money back but others were unable to contact the firm and get their investments back.

Read this next

Digital Assets

Bybit exits UK market ahead of regulatory changes

Bybit is suspending its cryptocurrency services for users in the United Kingdom due to impending regulations from the country’s Financial Conduct Authority (FCA).

Digital Assets

Binance argues SEC trampled authority set by Congress

Binance, Binance.US, and Changpeng Zhao have jointly filed to dismiss a lawsuit brought by the Securities and Exchange Commission (SEC) in June.


Oscar Asly replaces Rasha Gad as CEO of M4Markets Dubai

Seychelles-regulated brokerage firm M4Markets has secured a license from the Dubai Financial Services Authority (DFSA) after it has already incorporated its new subsidiary in the Dubai International Financial Center (DIFC).

Retail FX

Capital Index UK reports mitigated loss despite revenue drop

FCA-regulated brokerage firm Capital Index (UK) Limited has released its annual financial report for the year 2022.

Digital Assets

Mike Novogratz’s Galaxy Digital expands in Europe

Galaxy Digital, the New York-based cryptocurrency financial services company founded by Mike Novogratz, is expanding its presence in Europe by appointing Leon Marshall as its first European CEO.

Metaverse Gaming NFT

Turingum Partners with MarketAcross to Drive Web3 Adoption in Global and Japanese Markets

Global blockchain PR leader MarketAcross joins forces with Japanese Web3 specialist Turingum to mutually expand its market reach, aiming to fortify Turingum’s worldwide footprint and MarketAcross’s presence in the lucrative Japanese blockchain landscape.

Digital Assets

Binance to delist all stablecoins in Europe next year

During a public hearing with the European Banking Authority (EBA), an executive from Binance said that the exchange could ultimately delist stablecoins from its European platforms by June 30, 2024.

Industry News

“Unconscionable conduct”: ASIC fines National Australia Bank $2.1m for overcharging customers

NAB faces a $2.1 million penalty for unconscionable conduct, as the Federal Court rules the bank knowingly overcharged customers, and took over two years to rectify the situation.