Tagged: british columbia

British Columbia Securities Commission Claims Fraud was Committed by B.C. Crypto Firm

The B.C. Securities Commission recently alleged that a defunct cryptocurrency platform based in Nanaimo on Vancouver Island allegedly carried out a massive securities fraud by intentionally and illegally diverting customer funds to crypto gambling websites. In a notice issued in April 2023, the Commission said… Read More

Bitcoin Mining Centers Owned by Iris Energy Not Impacted by Govt of British Columbia Announcement

Iris Energy Limited (NASDAQ: IREN), an owner and operator of institutional-grade, highly efficient Bitcoin mining data centers powered by 100% renewable energy, recently announced that its 160MW of data center capacity is “not affected by the recent announcement by the Government of British Columbia.” On… Read More

Vancouver Fintech Beanworks Set for $105M Acquisition by French Enterprise Services Company Quadient SA ADR

Vancouver-based Fintech firm Beanworks will reportedly be acquired for $105 million. As reported by BIV, Beanworks is considered a high-growth tech firm and its acquisition deal is estimated at over $100 million. French enterprise services company Quadient SA ADR stated on Monday (March 22, 2021)… Read More

BIGG Digital Assets to Acquire Additional Bitcoin (BTC) Using its Free Cash Flows from Business Operations

BIGG Digital Assets Inc. (CSE: BIGG; OTCQB: BBKCF; WKN: A2PS9W), which is the owner of Netcoins (Netcoins.ca), the online digital currency brokerage that makes it convenient for Canadians to purchase, sell, and learn about cryptos, and the owner of Blockchain Intelligence Group (BIG), a developer… Read More

Fintech Firms Launch Operations without Understanding Complex Regulatory Requirements, and Fail to Meet Compliance Standards, Industry Exec Explains

Matthew Unger, CEO at Vancouver, Canada-based iComply Investor Services Inc, a global compliance platform for digital finance, reveals that updated regulations for strong client authentication and transaction monitoring now require Fintech companies to manage many complex tools. He points out in an Op-Ed on Finance… Read More

Crypto Miners Request 5000 Megawatts of Power from BC Hydro

BC Hydro, the semi-privatised crown corporation that manages most of the power infrastructure and supply in the Canadian province of British Columbia, says in the last year, cryptocurrency mining farms have requested to add up to 5000 megawatts of load to the province’s electrical systems,… Read More

British Columbia Securities Commission Issues Notice on Fintech, Seeks Feedback to Create Competitive Regulatory Environment

The British Columbia Securities Commission (BCSC) has published a notice on Fintech. This notice is designed to help “set out the results of the consultations and seek comment on potential regulatory action to clarify or modernize securities laws to benefit all stakeholders, including investors in… Read More

British Columbia Securities Commission Grants First Bitcoin Investment Fund Manager Registration

The British Columbia Securities Commission (BCSC) has announced the first registration of an investment fund manager in Canada solely dedicated to cryptocurrency investments. The approval by the BCSC was described as a landmark event. The BCSC granted First Block Capital Inc. registration as an investment… Read More

British Columbia Securities Commission Posts Survey & Creates Team to Better Understand Needs of Fintech Firms

The British Columbia Securities Commission (BCSC) has published an online survey while announcing a dedicated “Tech Team” as part of an initiative designed to better understand and support financial innovation. The BCSC described the project as part of ongoing outreach to BC Fintech and other… Read More

In Canada, Crowdfunding Approved By Six Provinces; Ottawa To Develop Separate Standards

  Provincial securities regulators in British Columbia, Saskatchewan, Manitoba, Quebec, New Brunswick and Nova Scotia announced Thursday that they will permit startup and early-stage companies to issue shares to investors through crowdfunding websites, according to the Globe and Mail. However, Ottawa stated that it will not take… Read More

Supporters Launch GoFundMe Crowdfunding Campaign To Raise Funds For Kinder Morgan Protesters’ Legal Defense; Raises Nearly $19,000 in One Day

Ready to help protestors take on the famous pipeline expert, Kinder Morgan, a group known as Land Defenders has launched a crowdfunding campaign to raise $40,000 for their legal defense team after the company served them with a $5.6 million dollar lawsuit. According to the Vancouver… Read More

British Columbia Child Raises $50,000 For Best Friend’s Operation

Stepping up to help a love one in need, 7-year-old Quinn Callender has launched a YouCaring campaign to raise funds for his friend Brayden, who has been struggling with a terrible disease known. Although he was only looking to raise $20,000, the British Columbia resident… Read More

British Columbia Crowdfunding Exemption (PDF)

The below document was published by the British Columbia Securities Commission describing the proposed crowdfunding exemption.  Certain conditions on the issuers are being proposed including a limit of raising no more than $150,000 per offering no more than twice per year.  Individuals may invest no… Read More

British Columbia Announces Crowdfunding Exemptions

B.C. Securities Commission publishes new securities crowdfunding exemption for comment. Members of the Canadian Securities Administrators published a proposed crowdfunding exemption modelled on the Saskatchewan Equity Crowdfunding exemption adopted on December 6, 2013 (the start-up crowdfunding exemption). The British Columbia Securities Commission is requesting comment… Read More

Sanctions Against Iran Force Indiegogo To Halt Campaign For British Columbia Woman

A woman from Vancouver, British Columbia recently took to Indiegogo to raise funds for a trip to Iran. Alaleh Sahabi was able to reconnect with her mother through Facebook and wanted to fly back to Iran to see her for the first time in over 20… Read More

Equity crowdfunding by unaccredited investors is legal in exactly one place in North America

Almost a year after President Obama signed the JOBS Act into law, crowdfunding for equity is still not legal … at least for the 99 percent of people that are not accredited investors. But there is at least one place in North America where crowdfunding… Read More

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