ICOs may fall under one jurisdiction – Ontario Securities Commission

Blockchain North America United States

The Ontario Securities Commission (OSC) issued a statement regarding ICOs, in which it claimed that despite the tokens not signifying an ownership stake in a particular business, the might be viewed as securities, hence, fall under the commission’s jurisdiction.

“Businesses’ specific use of [distributed ledger technology] may trigger Ontario securities law requirements, including the need to be registered or file a prospectus,” the statement reads.

The commissions encouraged businesses interested in the blockchain technology as means of raising capital to discuss securities law and investor protection requirements with the OSC.

About the author

Beatrice Ozanne

Beatrice Ozanne

Leave a Comment

Coinlaw Newsletter

Whether you are a law firm, founder gearing-up for a token offering, or a crypto currency trader, subscribe to the biggest crypto legal newsletter to be informed of the latest developments in each and every jurisdiction