Ontario Securities Regulator says ICOs and cryptos a priority

Canada North America Regulations

The Ontario Securities Commission (OSC) released a draft “Statement of Priorities” in which it pointed to cryptocurrencies and ICOs as some of its main priorities in the upcoming months and in need of further research and regulations.

While pointing to the innovation offered by the new financial sector tools, it also noticed associated risks, including customers’ lack of understanding of those tools. “Initial offerings of digital currency and similar instruments can raise fundamental issues about the scope of securities regulation, at the same time that they present significant investor protection issues.” reads the draft.

Furthermore, the OSC promised to provide a better definition of what securities are and to monitor and review forthcoming ICO issuers.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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