Warning Notices are issued by OSFI for financial institutions operating in Canada without the requisite licenses.
The name may seem familiar – the satoshi is the smallest subdivision of a Bitcoin, a decentralized virtual currency. Guess Bank of Satoshi thought they could be a conduit for Bitcoin/CAD (and other national currencies) exchanges – not in Canada, they can't!
Here's the Warning Notice:
Name and Address ofEntity
Web Address / Related Entity(ies)
Agency to contact with anyfurther information
Bank of Satoshi
Registered owner of web site:
Registered through: GoDaddy.com,LLC (http://www.godaddy.com)Domain Name:BANKOFSATOSHI.COM
Created on: 08-Jun-13Expires on: 08-Jun-15
Last Updated on: 13-Jul-13
Global CryptoCurrency Solutions
935 Sheldon CourtBurlington, OntarioL7L5K6
Canadian Anti-Fraud Centre
Royal Canadian MountedPolice
The above entity is not a bank or a federally regulated financial institution inCanada.
Warning Notices contain the names of entities recently brought to OSFI’s attention through some form of notice,
inquiry or complaint. If these entities, or persons purporting to represent them, are operating in Canada, theymay be violating provisions of the Bank Act, other federal financial institution legislation, other federallegislation, or provincial legislation.