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Securities oversight body warns cryptocurrency offerings may run afoul of law

Friday, June 15, 2018 @ 12:00 PM | By Ian Burns

The oversight body for Canada’s securities regulators has issued new guidance on how securities law applies in the burgeoning cryptocurrency market, stating companies should be aware their offerings may be a security and thus subject to stringent requirements under the law.

The Canadian Securities Administrators (CSA) published a staff notice June 11 dealing with initial coin offerings (ICOs) and initial token offerings (ICTs). The notice is an update of an initial document on cryptocurrency that was published in August 2017.

“Since publishing initial guidance, we have...