All posts filed under: Internet

Quebec’s plans to block unlicensed gaming sites ruled unconstitutional

The Quebec government took a gamble, and lost.

Under the guise of concern for the health and safety of Quebecers, the provincial government introduced controversial legislation that compelled Internet service providers to block unlicensed gambling websites.

It was a ruse, a move to protect their turf and increase revenues.

Suspected PlexCoin founder sentenced to two months in prison

Dominic Lacroix, a Quebec City businessman believed by Quebec’s financial watchdog and the U.S. Securities and Exchange Commission to be behind PlexCorps, a controversial cryptocurrency start-up accused of fraudulently selling up to $15 million of tokens, was sentenced to two months of prison and fined $100,000 for contempt of court.

U.S. SEC files charges against PlexCorps

The U.S. Securities and Exchange Commission has obtained an emergency asset freeze against PlexCoin, a controversial “fast-moving” and “purported” initial coin offering (ICO) that has raised up to $15 million from thousands of investors since August 2017.

The SEC also filed charges against Dominic Lacroix, a “recidivist” Quebec securities law violator, his partner Sabrina Paradis-Royer and his company PlexCorps, according to a new filing dated December 1, 2017 in Brooklyn, New York.

Why it matters: Regulators are keeping a watchful eye on ICOs, hoping to make life difficult for predatory offerings that promise exhorbitant returns.