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The Week that was in Fintech, Blockchain, and Cryptocurrency

November 7th
Ontario Securities Commission launches cryptoasset educational initiatives for Financial Literacy Month  On Thursday, November 1, 2018, the Ontario Securities Commission (“OSC”) launched two cryptoasset educational initiatives as part of... READ MORE

FinTech Articles

Canadian Securities Regulators Announce Platform to Identify Market Abuse The Canadian Securities Administrators (“CSA”) announced it has selected a market analytics platform designed to identify, assess, and assist potential market abuse cases. Kx, a division of First Derivatives plc, was platform chosen as a result of a public bidding process. Kx is a division of First Derivatives plc, a... READ MORE
In these heady days of cryptocurrency investment, the market can seem like a gold rush: offering promise, but at the expense of predictability. The taxation of cryptocurrencies is no different. In this article, a collaboration between the Fintech Team at EKB and Alexander Demner at Thorsteinssons LLP, we consider the tax implications for cryptocurrency investment in Canada. “In this... READ MORE
Canadian Securities Administrators Provide Additional Guidance on Securities Law Implications for Offerings of Tokens June 11, 2018: The Canadian Securities Administrators (“CSA”) published CSA Staff Notice 46-308 Securities Law Implications for Offerings of Tokens, which provides additional guidance on the applicability of securities laws to offerings of coins or tokens, including those that industry stakeholders commonly refer to as “utility... READ MORE
U.S. Justice Department Launches Criminal Probe into Crypto Price Manipulation May 24, 2018 – According to a Bloomberg report, the Justice Department has allegedly launched an investigation on Bitcoin/cryptocurrency price manipulation. Bloomberg reports that the investigation is focussed on “illegal practices that can influence prices”, such as “flooding the market with fake orders to trick other investors into buying... READ MORE
Revolutionary changes to complex systems often have humble beginnings. Double-entry-bookkeeping, for instance, grew from a minor section of a Franciscan monk’s mathematics encyclopedia in 15th-century Venice to the foundation of modern accounting. Now, blockchain, a system which allows connected computers to maintain a single updated ledger, seems poised to restructure stock exchanges, the core infrastructure of capital markets. Blockchain,... READ MORE
TMX Group to Launch Cryptocurrency Brokerage Cryptocurrency investors rejoice! TMX Group, the operator of Canada’s leading stock exchange, has announced that its wholly-owned subsidiary, Shorcan Digital Currency Network, will partner with a specialist in decentralized financial services, Paycase Financial, to launch a cryptocurrency brokerage service. The partnering will use BMO Financial Group’s payment and settlement infrastructure and Paycase’s cryptocurrency... READ MORE
Digital advertising giants ban cryptocurrency ads Recently, Google, Facebook, and Twitter have moved to ban cryptocurrency and Initial Coin Offering (ICO) advertising from their platforms. The move is largely a response to a lack of clear regulation in the sector and opportunistic, scam-laden advertisements. Facebook, the first of the three tech giants to announce a ban of this nature,... READ MORE
The U.S. government has blocked the acquisition of U.S. money transfer company MoneyGram International Inc. by Ant Financial, a mobile wallet company and an affiliate of the large Chinese e-commerce, retail, and technology firm Alibaba Group Holding Limited. Ant Financial had initially announced its intention to acquire MoneyGram in January 2017. On January 2, 2018, the companies announced the... READ MORE

About the Authors

KELLY SAMUELS
Kelly Samuels, partner, brings a knowledge of business law to the rapidly growing fintech sector.
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FRASER HARTLEY EKB Fintech Author

FRASER HARTLEY
Fraser Hartley, partner, is focused on financing + technology, and helping the businesses that bring the two together.
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riley lelonde ekb fintech author

RILEY LALONDE
Riley Lalonde, associate, assists clients with a variety of business law matters while keeping an eye on developments in the fintech sector.
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