STO Registration Procedures in Canada

Kirill Shilov
Feb 19 · 3 min read

What are the main regulations that exist in your region if you’d like to launch an STO/ICO?

Securities law in Ontario is governed primarily by the Securities Act, RSO 1990, c S.5.

Are there any examples of ICO/STO projects that have already complied with regulations? Do you consider their pick to be appropriate or not?

To date, there has been no ICO/STO that has been declared fully compliant with Ontario securities law by the Ontario Securities Commission.

What are the main liabilities of an STO team to the ST holders and who is in control over the fulfillment of this obligation?

To start, there are secondary market liability issues, consumer protection issues, fiduciary issues, issues in negligence, and various regulatory, criminal, and tort-based fraud issues.

What are the main advantages of the STO regulations within Ontario when compared to other jurisdictions?

Presently, there are no STO-targeted regulations in force in Ontario. STO/ICO activity falls within the current securities regulatory framework.

What is the legal status of cryptocurrencies in your country?

Cryptocurrencies cannot technically be money, pursuant to Section 13(1) of the Currency Act, R.S.C., 1985, c. C-52. According to this statute, the definition of “money” includes only fiat currency.

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