Investor Alert for aGifttoken

The Nova Scotia Securities Commission is alerting investors that aGifttoken is not registered to sell securities in Nova Scotia.

The company and its representatives have an initial coin offering that is available to Nova Scotia residents. aGifttoken claims to be a cryptocurrency to be used on the aGiftapp platform. It claims to have an office in Bucharest, Romania, and is targeting investors through its website, aGifttoken.com .

“Always take the time to check registration and understand the risks and costs involved with your investments,” said Stephanie Atkinson, acting director of enforcement with the commission.

The commission reports that more than 130 new investigations of initial coin offerings and cryptocurrency-related investment products have been initiated and 35 enforcement actions completed by provincial and state securities regulators in Canada and the United States since the beginning of the year as part of Operation Cryptosweep, an initiative of the North American Securities Administrators Association, of which the commission is a member.

The commission urges Nova Scotians to exercise extreme caution when dealing with firms that are not registered in Nova Scotia.

It is illegal to solicit investments in Nova Scotia without registering with the commission and complying with Nova Scotia securities laws. To see if a company or person is registered, you can check the Canadian Securities Administrators' National Registration Search.

Contact the commission at 902-424-8814 or NSSCEnforcement@novascotia.ca to report a scam.

The Nova Scotia Securities Commission is the provincial government agency responsible for regulating the investment industry in the province.