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Author: sabir

Regulation Of Crypto Currencies

    Cryptocurrencies are not considered a legal tender in Canada; as such legal tenders can only be in the form of banknotes and coins issued by the Bank of Canada as per the Currency Act, 1985. However, the Government of Canada permits the usage of cryptocurrencies in the form of digital currencies to buy goods and services on the internet and in stores that accept such digital currenci...

Canadian Securities Laws : Coins and Tokens

  The CSA Notice 46-307 addresses a number of considerations of relevance to Fintechs, investors and their advisors, including the potential applicability of Canadian securities laws to initial coin offerings (“ICOs”) and initial token offerings (“ITOs”), cryptocurrency exchanges and cryptocurrency investment funds. It follows a press release issued by the Ontario Securities Commission earlie...

CRYPTOCURRENCY OFFERINGS

  Cryptocurrency offerings can be in the form of initial coin offerings(ICO), initial token offerings(ITO) and sales of securities of cryptocurrency investment funds. These offerings provide new opportunities for businesses to raise capital and for investors to access a broader range of investments. However, they can also raise investor protection concerns, due to issues around volatility, tr...

DIGITAL CURRENCY

Introduction On 25 March 2014, the Senate authorized the Standing Senate Committee on Banking, Trade, and Commerce (the Committee) to study digital currencies, with a particular focus on the potential risks, threats, and advantages of these electronic forms of exchange. The Committee’s interest in the topic was partially motivated by media reports about bitcoin being used to make and receive payme...

MARGIN REQUIREMENTS FOR CRYPTOCURRENCY FUTURE CONTRACTS

  With the launch of trading of cryptocurrency on certain futures exchange in December 2017, there is a need to clarify the minimum margin requirements for these future contracts for Dealer Member Inventory and client positions. As per Dealer Member Rule 100:8(f); the Investment Industry Regulatory Organisation of Canada (IIROC) may prescribe greater or lesser margin requirements than those p...