Canadian regulators take on ‘wild west’ world of initial coin offerings
Canada's securities regulators are wading into the murky world of initial coin offerings.
An ICO is an emerging form of fundraising, in some cases similar to crowdfunding, in which companies sell digital "coins" or "tokens" to finance a new venture. Some early-stage companies have raised millions of dollars quickly using this method. But it is not clear how ICOs fit into securities laws that are designed to protect investors; in a staff notice scheduled to be published on Thursday, the Canadian Securities Administrators says it will determine on a case-by-case basis whether an ICO constitutes a security.
Published by the Globe and Mail.