If you are conducting business with the Government of Saskatchewan by mail, please be advised that delivery may be delayed due to rotating postal strikes. Various measures are in place to ensure service to Saskatchewan residents and businesses during postal strike action.

Google Translate Disclaimer

A number of pages on the Government of Saskatchewan`s web site have been professionally translated in French. These translations are identified by a yellow text box that resembles the link below and can be found in the right hand rail of the page. The home page for French-language content on this site can be found here:

Renseignements en Français

Where an official translation is not available, Google™ Translate can be used. Google™ Translate is a free online language translation service that can translate text and web pages into different languages. Translations are made available to increase access to Government of Saskatchewan content for populations whose first language is not English.

The results of software-based translation do not approach the fluency of a native speaker or possess the skill of a professional translator. The translation should not be considered exact, and may include incorrect or offensive language Government of Saskatchewan does not warrant the accuracy, reliability or timeliness of any information translated by this system. Some files or items cannot be translated, including graphs, photos, and other file formats such as portable document formats (PDFs).

Any person or entities that rely on information obtained from the system does so at his or her own risk. Government of Saskatchewan is not responsible for any damage or issues that may possibly result from using translated website content. If you have any questions about Google™ Translate, please visit: Google™ Translate FAQs.

Using Or Investing In Cryptocurrency? Know The Risks

Released on October 31, 2018

As October is Investor Education Month, the Financial and Consumer Affairs Authority (FCAA) is warning consumers of the potential risks of investing and trading in cryptocurrency.

Cryptocurrency is digital money that is not legal tender.  It is not issued by the Bank of Canada and no financial institution is involved with the transactions.  Digital money is sent from one person’s computer to another through a peer-to-peer database network.  The most popular type of cryptocurrency is the Bitcoin.  Other types can include Ethereum, Dash, Ripple and Litecoin.

“If you choose to use or invest in cryptocurrency, do your due diligence and know what you’re dealing with,” FCAA Acting Deputy Director of Enforcement Securities Division Harvey White said.  “Be sure to contact a professional advisor who can help you with any questions you may have.  It’s important to remember that if you don’t fully understand the risks - don’t get involved.”

Cryptocurrency Investment Risks:

  1. Volatile - Cryptocurrency prices rise and fall dramatically often driven by media hype and public interest.
  2. Unprotected - Cryptocurrencies are not backed by a bank or authority like Canadian currency is.  Additionally, cryptocurrency may not be subject to securities regulation, which means you may have little recourse in a dispute and may be vulnerable to your investment’s value being manipulated.  Cryptocurrency trading platforms and exchanges are susceptible to cybersecurity threats and hacking.
  3. Complex - Cryptocurrencies are by their nature, complex and difficult to understand.  It can be confusing and time-consuming to trade or withdraw cryptocurrency, often requiring several intermediaries.  It is also hard to make informed decisions without financial statements and traditional assessment criteria to rely on.
  4. Expensive - Certain fees are associated with trading cryptocurrency.  Make sure you understand what it will cost you to trade.  These costs have the potential to erode profits.
For more information about cryptocurrency, visit http://fcaa.gov.sk.ca/consumers-investors-pension-plan-members/investors/cryptocurrency or contact the Securities Division at 306-787-5645.

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For more information, contact:

Shannon McMillan
Financial and Consumer Affairs Authority
Regina
Phone: 306-798-4160
Email: shannon.mcmillan@gov.sk.ca

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