Securities Registration Requirements for Blockchain Businesses

Blockchain companies in the business of security tokens must register with the securities regulator. Exchanges must formally apply to carry on business as an exchange.

Chetan Phull · July 17, 2018

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Prospectus Exemption Options for Blockchain Businesses

The prospectus requirement for ICOs / ITOs is expensive and time consuming. It is important to understand the available Canadian prospectus exemptions, because they can be used repeatedly to raise funds.

Chetan Phull · July 17, 2018

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Foreign Issued Tokens Traded Over-the-Counter in Canada

When tokens flow into Canada on the secondary market, certain trading activity could subject the corporation and its management team to a regulatory and/or criminal proceeding.

Chetan Phull · July 17, 2018

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“Security Tokens” – A Developing Concept

The “investment contract” definition for security tokens in the U.S. and Canada has a new face. This article considers the developing definition, its impact on the SAFT, and further complexities with the definition of “security” and SAFT regulation in Canada.

Chetan Phull · July 17, 2018

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Overview of Securities Regulation in Canada

In the specific context of digital asset transactions, securities law regulates how tokens and coins are being issued, distributed and sold. This article provides an overview of the Canadian securities regulatory environment for such transactions.

Chetan Phull · July 17, 2018

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Financial Institution Regulations

Is your Canadian cryptocurrency business regulated by the Bank Act? Or perhaps the Trust and Loan Companies Act? Has it considered becoming a member of the Canadian Payments Association?

Chetan Phull · Apr 26, 2018

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Cryptocurrency and Monetary Instruments

Cryptocurrency cannot be the subject of an “inland” monetary instrument, but may be capable of a “foreign” monetary instrument. For example, a hardware wallet fashioned into a physical gift card.

Chetan Phull · Apr 26, 2018

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Cross-Border Crypto Related Litigation

An overview of an Ontario’s court’s jurisdiction in cross-border disputes, with discussion of recent Canadian cases involving international cryptocurrency businesses.

Chetan Phull · Apr 26, 2018

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Enforcing Cryptocurrency Contracts

How to enforce a cryptocurrency-denominated contract, or defend against such enforcement.

Chetan Phull · Apr 26, 2018

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Cryptocurrency Can’t Be “Money” in Canadian Commercial Law

At present, a contract denominated in cryptocurrency can only be legal in Canada if cryptocurrency is not “money”. Here’s why.

Chetan Phull · Apr 26, 2018

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What's Next in Crypto-Tax?

The Standing Senate Committee on Banking, Trade and Commerce is due to review its 2015 report on cryptocurrencies this year (2018).

Chetan Phull · Feb 23, 2018

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Crypto-Exchange/Wallet Tax Issues

Material tax-purposed questions for cryptocurrency exchanges, wallets and users imply an important issue regarding resulting trusts and tax reporting obligations.

Chetan Phull · Feb 23, 2018

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Crypto as Specified Foreign Property

Cryptocurrency as “specified foreign property” under the Income Tax Act is problematic, because of how cryptocurrency is located in fact, held, and accessed.

Chetan Phull · Feb 23, 2018

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The CRA’s Present Position on Crypto-Tax

Survey of the CRA’s current position on various cryptocurrency income tax and GST-HST issues.

Chetan Phull · Feb 23, 2018

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Crypto-KYC in Canada

An overview of upcoming KYC requirements for businesses "dealing in virtual currencies".

Chetan Phull · Feb 8, 2018

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Virtual Currency Regulations in Canada: Will Your Blockchain Business Be Affected?

We anticipate that Canadian regulations on virtual currencies will be released soon. Will Your Blockchain Business Be Affected?

Chetan Phull · Feb 8, 2018

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The Law of ICOs/ITOs: Simplified

Initial Coin Offerings, or Initial Token Offerings (“ICOs/ITOs”), have become a popular method for companies to raise capital. This is a general guide for when ICOs/ITOs will trigger securities laws in Ontario.

Chetan Phull · Jan 25, 2018

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Toronto May Soon Drive Virtual Currency Laws Across Canada

The acceptance of Councillor Kelly's proposal on January 31, 2018 may serve as a catalyst for rapid legal development in the virtual currency space, with Toronto having initiated the process.

Chetan Phull · Jan 16, 2018

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Your Blockchain Business Needs a Blockchain Lawyer

The law is changing. Blockchain activities are being regulated. Legal compliance is—and will increasingly be—essential to the functioning and profitability of your blockchain business.

Chetan Phull · Jan 4, 2018

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