TTSEC probes Trillions Systems for alleged unregistered crypto scheme

The Trinidad and Tobago Securities and Exchange Commission (TTSEC), the regulator of the local securities market, has started an investigation into the entity named Trillions Systems Ltd, which has received millions of dollars from members of the public with promises of large returns.

In a public notice issued on Monday, the TTSEC said Trillions Systems or its promoters or representatives “may be involved in the offering of investment opportunities involving crypto assets without the requisite registration and/or exemption under securities laws.”

“The public is advised that Trillions Systems is not registered with the TTSEC in any capacity,” the notice continued.

The Commission said its investigations into Trillions Systems are at a preliminary stage at present and that the notice “does not constitute a final finding of wrongdoing or a regulatory order.”

The TTSEC said its mission is “instilling confidence in the securities market by protecting investors, promoting sustainable market growth, and reducing systemic risk, through collaboration and innovation.”