On February 14, 2018, the British Columbia Securities Commission (BCSC) published a notice and request for comment (the “Notice”) on the securities law framework for Fintech regulation in the province. The Notice summarizes the results of consultations the BCSC has undertaken in the Fintech space and poses related questions to stakeholders. The Notice provides useful information—and an important opportunity to provide input—for businesses with an interest in how regulatory rules for Fintech may change in the future.
The BCSC has actively monitored Fintech developments over the past 18 months. In January 2017, the BCSC established a dedicated support group, the … Continue Reading
In a decision expected to be widely noted by the startup community, the Ontario Securities Commission (“OSC”) approved the first initial token offering (“ITO”, also known as an initial coin offering or “ICO”) in Ontario. The decision released October 17, 2017 comes in the wake of increasing innovation and market activity within the fintech and cryptocurrency space in Canada.… Continue Reading
On September 12, 2017 the UK Financial Conduct Authority (“FCA”) released brief guidance (“FCA Guidance”) on initial coin offerings (“ICOs”). This follows earlier guidance from the Canadian Securities Administrators (the “CSA”) in August on ICOs, a summary of which can be read here:
The FCA Guidance defines an ICO as a digital method of raising funds from the public using a virtual currency (cryptocurrency). An ICO can also be known as a “token sale” or a “coin sale”.… Continue Reading