The Ontario Securities Commission recently declared that it is “keen to support” cryptocurrencies and initial coin offerings (ICOs). In addition to its service to help businesses comply with securities laws, it has established a dedicated team to respond quickly to cryptocurrency offerings
The Ontario Securities Commission (OSC) is the largest securities regulator in Canada and includes the Toronto Stock Exchange within its jurisdiction. It administers both the Ontario Securities Act and the Commodity Futures Act
Furthermore, the regulator offered “to sit down with any business that has questions about this area and regularly host information days for the fintech community on topics such as cryptocurrency offerings”
Citing how this industry is “rapidly evolving,” the Commission revealed another, related initiative. “We’ve recently established a team of OSC executives to respond quickly to cryptocurrency offerings. This is in addition to the continued work by our dedicated OSC Launchpad team,” it detailed
The OSC maintained that its regulatory approach to the crypto space is consistent with that of other countries’ regulators such as the ASIC, the SEC, the FCA, and MAS. “We need to be prepared for this new asset class and way of doing business. At the same time, we must balance demand for new ways to raise capital and invest with the need to protect investors from high-risk or fraudulent activities,” the Commission wrote
Comments
Post a Comment