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Thursday, September 7, 2017

While China is Getting Tough With ICOs, Canada Voices Support For Token Sale

While China is Getting Tough With ICOs, Canada Voices Support For Token Sale

Financial regulators in Canada are giving the digital currencies and initial coin offering (ICO) activities a big break. Among the regulators is Quebec’s Autorite des Marches Financiers (AMF), which intends to give the Blockchain use case a chance, if not altogether encourage it.

To show its support to ICOs, the AMF has determined that the token sale conducted by socially responsible enterprises investment startup Impak Finance is a security. The regulator also accepted the company into its regulatory sandbox.

The AMF has also relieved Impak Finance some of the requirements that it usually required from securities for protection purposes so that the ICO will materialize.

According to AMF corporate finance division director Patrick Theoret, the move is a test case to determine whether there will be investor protection issues that will emerge from the ICO: 

"It’s in the spirit of the sandbox that we are willing to alleviate some of the requirements on, sort of, a test case basis. It's a test run to see whether there are investor protection [issues] with the relief that we grant."

Full story at

Source: CoinTelegraph

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