Latest Posts

U.S. Court Orders Certain Identifying Information to be Provided to the IRS

On November 29, 2017 a US federal judge in San Francisco ruled that Coinbase, Inc. (“Coinbase”) a popular online cryptocurrency exchange, must supply the Internal Revenue Service (the “IRS”) with identifying information on users who had more than US$20,000 in annual transactions on the Coinbase platform between January 1, 2013 and December 31, 2015.

Read Full Article
SEC Issues Guidance on Celebrity Endorsements

On November 1, 2017, the U.S. Securities and Exchange Commission (the “SEC”) released a statement addressing the recent influx of celebrities that are endorsing and promoting investments in stocks and other investments, particularly Initial Coin Offerings (“ICOs”).

Read Full Article
OSC Gives Relief to First Initial Token Offering

On October 17, 2017, the Ontario Securities Commission (“OSC”) granted relief to an initial token offering (“ITO”), its first decision of this kind.  The OSC granted exemptive relief to Token Funder (“Funder”) in connection with its ITO of FNDR tokens (as defined below) through a private placement offering (the “Offering”). The exemptive relief was sought through the Canadian Securities Administrators’ regulatory sandbox (the “CSA Sandbox”), which is an initiative of the CSA to support fintech businesses seeking to provide innovative products, services and applications by offering a faster and more flexible process to register and/or obtain exemptive relief from securities laws requirements.

Read Full Article
CSA Provides Guidance on How Canadian Securities Law Applies to Cryptocurrencies

On August 24, 2017, in response to the growing number of cryptocurrency offerings, the Canadian Securities Administrators (the “CSA”) issued Staff Notice 46-307 - Cryptocurrency Offerings (the “Staff Notice”). Cryptocurrency offerings can appear in a number of forms, such as initial coin offerings (an “ICO”) or the sale of securities of cryptocurrency investment funds. In an attempt to clarify its position on these offerings, the CSA issued the Staff Notice to provide guidance on how securities law in Canada may apply to this emerging field and to specify the required obligations that must be met under the current applicable regulations.

Read Full Article
Australian Cryptocurrency Reforms

On Thursday, August 17, 2017, the Australian government proposed a set of reforms aimed at regulating the purchase and sale of digital currencies on online exchanges, in an attempt to deter individuals from using these currencies for illicit purposes such as money laundering and the financing of terror-related activities.

Read Full Article
SEC Issues Report - Declares DAO Tokens to be Securities

On July 25, 2017, the Securities and Exchange Commission (the SEC) released its Report of Investigation (the “SEC Report”) on the 2016 offering of tokens by a group known as “the DAO.” The SEC determined that the tokens offered by the DAO (“DAO Tokens”) were investment contracts, and therefore were securities under the United States Securities Act of 1933 and the Securities Exchange Act of 1934.

Read Full Article
Prev 1 2

Subscribe & Visit

Subscribe to our Mailings Subscribe to our Mailings

Subscribe to our RSS feed Subscribe to our RSS feed

Find out more about Cassels Brock and the Emerging Companies & Technology Group

Visit Us