In a wide-ranging statement on initial coin offerings (ICOs), Canada Securities Administrators (CSA) – an umbrella group composed of the country's regional and local securities watchdogs – has provided guidance on how regulatory bodies plan to oversee this emerging funding model. It encourages businesses with proposed ICOs to contact their local securities regulatory authority to discuss approaches for complying with securities laws, and notes that when assessing whether securities laws would apply the focus will be on “substance over form".
Up Next in Blockchain
The Bank of International Settlements (BIS) has published a new report that recommends the use of distributed ledger (blockchain) technology to help central banks replace their aging payment systems. Various central banks are already experimenting with applications of blockchain tech, including the Bank of Canada, the Central Bank of Brazil, the Monetary Authority of Singapore, and the Bank of England.
'End of Life Cycle': BIS Report Positions DLT as Needed Banking Update
SETL and four French fund managers are aiming to go into production in 2018 with a pan-European fund record-keeping platform based on blockchain technology. Designed to provide investors, asset management firms, distributors and wealth management advisers with straightforward access to fund units, the system manages KYC processes, handles subscription / redemption instructions, and settles transactions and record positions.
SETL Targets 2018 Launch For Blockchain-Based Fund Platform
Finextra Research - Finextra