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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

Applications of Existing Legislation/Securities Law to ICOs While some jurisdictions have taken a hostile approach to ICOs, such as the bans by Korea and China, discussed in Part 1 of our 2 part series on international regulation of ICOs, a more measured approach is more common. Many jurisdictions have taken the stance that ICOs can and should be regulated... READ MORE
Background, Bans, and ICO Outliers Over the past few weeks there have been a number of interesting developments in the regulation of Initial Coin Offerings (ICOs, sometimes referred to as Initial Token Offerings or ITOs), so we decided to take this opportunity to summarize the state of ICO regulation worldwide. (For an overview of ICOs, see our recent blog... READ MORE
Peer-to-peer lending, (often abbreviated as P2P lending) is a form of debt financing whereby individuals and businesses lend money using online platforms that connect investors and borrowers rather than using traditional intermediates, such as banks. P2P lending is not a new concept (companies like Zopa in the UK and Prosper and Lending Club in the US have been around... READ MORE
The “Regtech” sector is transforming regulatory compliance and risk management by using new technology to automate and streamline previously costly processes. The current regulatory environment in many Canadian industries features increasingly complex regimes that produce substantial compliance costs for industry participants. In many larger organizations, this has necessitated entire departments dedicated to ensuring compliance. Regulation also creates substantial barriers... READ MORE
An ICO, or initial coin offering (or sometimes an ITO or an initial token offering) is a relatively new – and recently much talked about – fundraising method. ICOs involve pre-selling a portion of a newly issued cryptographic currency. Investors receive cryptographic “coins” or “tokens” in exchange for other established types of cryptocurrency, such as Bitcoin or Ether, or... READ MORE
It’s not easy to weigh the pros and cons of investing in bitcoin. As a cryptocurrency, bitcoin may not have the heft of a gold bar, but its value has continued to climb. If only I’d bought bitcoin back in 2011 when the price of one bitcoin was on par with the US dollar. This month the bitcoin price has... READ MORE
At the intersection of the financial services and technology sectors is an industry that has garnered much attention of late. With the rise of the ubiquitous smartphone and our “always online” culture, consumer behaviour has evolved to require financial services to be delivered through new technologies offering a seamless user experience at a cheaper cost than their traditional equivalents.... READ MORE
Entities that are designated as reporting entities under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, such as money services businesses and designated financial institutions have certain obligations to fulfill under the Act and corresponding Regulations. One of these obligations is to verify the identity of their clients, also known as “KYC” requirements. The Regulations specify when... READ MORE
It might not sound sexy but it’s exciting nonetheless….Recent amendments to the British Columbia Disclosure of the Cost of Consumer Credit Regulation have opened the doors to real time digital consumer loan products. The Business Practices and Consumer Protection Act and the Regulation require credit grantors who extend credit in the ordinary course of carrying on their businesses to... 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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