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Cryptocurrencies

The Ontario Securities Commission’s Investor Office has resources for investors interested in learning about cryptocurrencies, in particular the considerable risks that often accompany these kinds of investments. The resources include the results of a survey conducted by the Investor Office to learn more about which segments of the Ontario public are purchasing cryptocurrencies and an article providing an overview of cryptocurrency offerings.

The Autorité des marchés financiers has also cautioned investors about the risks associated with initial cryptocurrency or token offerings and is reminding issuers about their obligations under securities laws.

The International Organization of Securities Commissions (IOSCO) Board released a communication on concerns related to Initial Coin Offerings (ICOs) and stated that, in its meeting October 18-19, 2017, the IOSCO Board discussed the growing usage of ICOs to raise capital as an area of concern. Following the meeting, it issued a statement to its members (ie securities commissions) regarding the risks of ICOs and it has also set up an ICO Consultation Network.