Bitcoin
$47,964+0.65%
Ethereum
$3,426.91+0.00%
XRP
$1.08+0.46%
Cardano
$2.37-0.00%
Polkadot
$34.07+1.43%
Stellar
$0.324154+1.13%
Dogecoin
$0.240543-0.34%
Chainlink
$28.20+0.70%
Uniswap
$24.36-0.73%
Polygon
$1.36-2.62%
Litecoin
$180.89-0.34%
Bitcoin Cash
$640.83+2.27%
Algorand
$2.05+5.05%
Cosmos
$39.85+15.33%
Wrapped Bitcoin
$47,995.01+0.71%
Filecoin
$83.69-1.72%
The Graph
$0.826702-0.34%
Tron
$0.104844-1.07%
Ethereum Classic
$56.85+0.30%
Tezos
$6.61+7.28%
Aave
$352.34-1.50%
EOS
$5.39+3.78%
NEO
$49.24+0.30%
Monero
$269.43+1.54%
IOTA
$1.62-3.36%
BitTorrent
$0.003921-0.52%
Bitcoin SV
$159.11+1.26%
Waves
$28.62-0.80%
Maker
$2,825.51+0.35%
Dash
$198.11-2.25%
Decred
$141.03-4.71%
Decentraland
$0.817711-0.53%
ICON
$1.89-2.69%
NEM
$0.183359+0.10%
Zcash
$139.02+2.93%
Qtum
$12.44-0.62%
NuCypher
$0.331588-0.97%
Bitcoin Gold
$66.03-0.00%
Yearn Finance
$33,704.38+0.72%
OmiseGO
$8.66+2.49%
Basic Attention Token
$0.748000-0.77%
0x
$1.10+2.56%
Paxos Standard
$0.999903-0.00%
Fetch.ai
$0.834170-3.39%
Ren
$0.954876-9.22%
Bancor
$4.07+0.03%
Siacoin
$0.018948+2.58%
Band Protocol
$9.23+0.94%
Kava.io
$6.19-0.10%
Nano
$5.54+0.01%
Loopring
$0.459497+0.41%
Storj
$1.38+0.66%
Civic
$0.525009-2.24%
Lisk
$3.61+2.97%
Numeraire
$45.46+2.33%
Orchid
$0.375703+3.63%
PAX Gold
$1,770.49+0.23%
Augur
$26.08+0.39%
Aragon
$6.46+10.16%
Enzyme
$123.05+8.99%
district0x
$0.176126+1.88%
Kyber Network
$1.80-0.88%
SingularDTV
$0.001463-2.14%
Tether
$1.00+0.03%
USD Coin
$1.00+0.01%
Dai
$1.00-0.03%

Ontario Securities Regulator Approves TokenFunder ICO

The Ontario Securities Commission is allowing startup Token Funder to launch a regulated initial coin offering (ICO) next month.

Oct 25, 2017 at 8:00 a.m. UTC
Updated Sep 13, 2021 at 7:04 a.m. UTC

The Ontario Securities Commission (OSC) has given its blessing to an initial coin offering set to launch at the start of next month.

In a decision posted online Oct. 23, the OSC approved the token sale organized by TokenFunder, which is developing a platform for projects aiming to raise funds through coin sales of their own. The company is aiming to raise roughly $10 million, with the sale set to commence on Nov. 1.

Though not the first ICO in Canada to receive the blessing of a regulator, it is the first for the province of Ontario. It's also one that comes months after the OSC issued a public statement on the blockchain use case, declaring that that some offerings would trigger the agency's oversight.

In a statement to CoinDesk, the agency struck an optimistic tone about the approval, remarking:

"It is important that we continue to foster innovative new ways to raise capital and invest, and this announcement is a testament to the dedicated support we are providing in this space."

As part of the legal framework surrounding the campaign, TokenFunder will be treating its coin offering as a security. Similarly, the token management platform the company will launch will be classifying future offerings as securities.

TokenFunder follows Quebec-based Impak Finance as one of the first companies in Canada to launch an ICO under the oversight of a provincial regulator.

Canadian flag on keyboard image via Shutterstock

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...