Tagged: ontario securities commission

Bitcoin ETF: Ontario Securities Commission Approves Second BTC Exchange Traded Fund or ETF from Evolve Funds

As digital assets investing continues to become more widely adopted by institutional clients, Canada is introducing its second cryptocurrency exchange-traded-fund (ETF). The Ontario Securities Commission (OSC) has reportedly approved the second Bitcoin ETF from Evolve Funds, which has come only a few days after the… Read More

Digital Assets Ecosystem Surpasses $1.5T Market Cap, $60B in BTC held by Public Firms, as First Bitcoin ETF to Launch in Canada

Researchers at Bloqport have confirmed that publicly-traded firms and fund managers now hold approximately $60 billion worth of Bitcoin (BTC), which is around 6% of the digital asset’s circulating supply. Publicly-traded companies and fund managers now hold around $60 billion worth of #Bitcoin, roughly 6%… Read More

Ontario Looks to Facilitate Securities Crowdfunding with Interim Order

The Canadian Securities Administrators (CSA) has announced that in light of the COVID-19 crisis and difficulties regarding small businesses accessing capital, the Ontario Securities Commission (OSC) has made an interim local order that adopts the start-up crowdfunding regime currently in place in certain other Canadian… Read More

Ontario Securities Commission Settles with Coinsquare Executives Regarding Inflated Trading Volumes: 90% of the reported trading volume had no economic substance

The Ontario Securities Commission (OSC) has approved a settlement agreement with Coinsquare Ltd., a top crypto exchange based in Canada. According to the OSC, Coinsquare executives  Cole Diamond, Virgile Rostand and Felix Mazer have settled allegations of market manipulation on the Coinsquare platform that mislead… Read More

OSC Documents the Demise of QuadrigaCX Crypto Exchange: Most Losses Came from Gerald Cotten’s Fraudulent Trading

One Big Crypto Ponzi Scheme Last week the Ontario Securities Commission (OSC) published a report documenting the collapse of QuadrigaCX, a crypto-exchange operated Gerald Cotten who reportedly died taking the crypto exchange to the grave. The review by the OSC staff disclosed that the failure… Read More

Lawyer Amy ter Haar on the Ontario Securities Commission’s New Guidance for Cryptocurrency Trading Platforms

Toronto lawyer Amy ter Haar has provided her take on the Ontario Securities Commission’s (OSC’s) CSA Staff Notice 21-327: Guidance on the Application of Securities Legislation to Entities Facilitating the Trading of Crypto Assets. In short, the guidance could render any cryptocurrency trading platform subject to… Read More

Canadian Securities Administrators: If Sole Control of “CryptoAssets” Does Not Go to Customer, Trading Platforms Subject to Securities Laws

The Canadian Securities Administrators (CSA) have made a major announcement regarding the regulation of cryptocurrency and “cryptoasset” trading platforms in the country, one that could add significant operational costs in the near term. Under the guidance, unless they have obtained an exemption, cryptocurrency trading platforms in… Read More

Ontario Securities Commission Launchpad Surveys Due January 3rd, “Candid Insights” Welcome

Companies wishing to provide the Ontario Securities Commission (OSC) with, “feedback on the regulatory and capital raising challenges faced by innovative businesses at various stages of development,” have until Friday, January 3rd, to complete the OSC’s Launchpad Survey. The survey was designed in collaboration with… Read More

Ontario’s Government to Reduce Regulatory Burdens, Improve Innovation in Fintech Including Harmonized Crowdfunding Rules

The government of Ontario is looking to updating their regulatory policies for capital markets while reducing the regulatory burden. Improvements for both large and small firms are the goal. This includes innovative businesses in Fintech as they will receive: “more flexibility in the OSC’s approach… Read More

Canadian Investment Fund Manager 3iQ Corp Receives Favorable Ruling on Bitcoin Fund

3iQ Corp. (3iQ), a Canadian investment fund manager, has received a favorable ruling regarding “The Bitcoin Fund” from the Ontario Securities Commission (OSC), according to a company release. Reportedly, 3iQ will issue a final prospectus for a closed-end Bitcoin fund which will be listed on… Read More

TokenFunder Greenlighted in Ontario to Pilot Secondary Market Token Trading Platform FreedomX

The Ontario Securities Commission (OSC) has agreed to allow TokenGX Inc, operator of token-issuance platform TokenFunder, to pilot a secondary market trading system for Ontario residents only. The pilot can proceed for 12 months after the first issuance of an ITO (initial token offering) or… Read More

SEC and OSC Take Action Against NextBlock Global and Alex Tapscott for Misleading Investors

The Securities and Exchange Commission (SEC) and the Ontario Securities Commission (OSC) have jointly taken action against Alex Tapscott and NextBlock Global Limited for misleading investors pertaining to digital asset investments. Both agencies require Tapscott-NextBlock to pay penalties affiliated with the securities offering. According to… Read More

Ontario Securities Commission Posts New Members of Fintech Advisory Committee

The Ontario Securities Commission (OSC) has posted the new members of the regulator’s Fintech Advisory Committee (FAC). The FAC ostensibly advises the OSC on developments in the Fintech space while providing perspective on challenges facing emerging fintech firms. While there remains some overlap from last… Read More

Ontario Securities Commission Says It’s Looking Into Locked Funds Affair at Crypto Exchange QuadrigaCX

The Ontario Securities Commission has stated that it is “looking in” problems at Quadriga CX after it was revealed last week that the Canadian cryptocurrency exchange has been put into credit protection following the December death of its founder, Gerald Cotten. Matters have been further… Read More

Dear Regulators: You Are One Call Away From Changing The Future of Canadian Business

In an open letter to Canadian securities regulators, leading investment crowdfunding platform FrontFundr pointed a finger at provincial regulators and their inability to foster a robust ecosystem for online capital formation for early-stage Canadian firms. Signed by Peter-Paul Van Hoeken, who is CEO of FrontFundr… Read More

Ontario Securities Commission Now Seeking Applications for Fintech Advisory Committee

The Ontario Securities Commission (OSC) announced last week it is seeking applications for membership on its Fintech Advisory Committee (FAC). The OSC reported the FAC advises the OSC LaunchPad staff on developments in the fintech space and the challenges faced by start-ups in the securities industry. It… Read More

Ontario Securities Commission Releases Colourful New “Cryptoasset” Educational Website

The Ontario Securities Commission, regulator of capital markets in Canada’s most populous economic-powerhouse province, have created a colourful new website to educate investors about cryptocurrencies: GetSmarterAboutCrypto.ca According to a release announcing the initiative, 5% of adult Ontarians, or around 500 000 individuals, now own “crypto assets,”… Read More

Ontario Securities Commission “Doesn’t Really Know What’s Going On” in Blockchain Fintech, Says Lawyer

The Ontario Securities Commission’s (OSC’s) “Statement of Priorities for the Financial Year to End March 31st, 2018,” provides little guidance to Ontario companies trying to advance blockchain-based financial technologies, says Toronto-based blockchain lawyer Amy ter Haar. T Though the report restates the commission’s commitment to protecting… Read More

Ontario Securities Commission Statement of Priorities includes Working with Fintech to Support innovation

The Ontario Securities Commission (OSC) has published its 2018-2019 “Statement of Priorities.” This document sets out the priorities for the regulator during the fiscal year along with preferred outcomes. Along with the expected statements of investor protection and compliance / enforcement, the OSC says it intends… Read More

Canada: 5% of Ontarians Own Cryptocurrencies; 21% of Owners Don’t Know They’re Regulated

The Ontario Securities Commission (OSC) has published a report on a comprehensive survey of 2500 Ontarians regarding their interest in and knowledge of digital currencies like Bitcoin. The report, commissioned by the OSC’s Investor Office and conducted by Innovative Research Group, found that 5%, or… Read More

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