The CSA is an umbrella group composed of the countrys regional and local securities watchdogs. The document, entitled “Cryptocurrency Offerings”, provides the clearest indication yet as to how regulatory bodies plan to oversee the emerging funding model.
The paper outlines the requirements for companies involved in the launch and management of ICOs, as well as the exchanges that later list those assets for trading. Furthermore, it reveals that a great part of the digital tokens investigated by regulators in Canada fall under the definition of a security, thereby triggering a range of legal requirements, according to CoinDesk.
The notice, also includes guidance for companies looking to create cryptocurrency investment funds in Canada, and invites the ones interested in launching an ICO, to consider signing up for a regulatory sandbox, through which new financial products can be tested in a limited setting.
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