FIRST LEGAL ICO OF CANADA WILL BE HELD ON NOVEMBER 1

The negative reactions in various parts of the world by government entities about the Initial Coin Holdings (ICO) that have harmed a large number of investors and triggered their ban mainly in China seem to have begun to become more flexible, as the startup TokenFunder announced its initial round of funding for this November 1, as it received regulatory approval from the government of Canada on October 17 this year.

The announcement was made by the startup, which is based on the blockchain Ethereum. The platform promises to serve the intermediary users for emerging companies to launch their own initial offers of currency, backed by the legal statutes in force in the country regarding the sale of assets and the functioning of markets. Likewise, TokenFunder will offer financial and marketing consulting services to companies that contract their services.

Tokenfunder token will be called FNDR and will not be specifically part of an ICO but an ITO (Initial Token Offer). The difference between the two is that the first refers mainly to a cryptomoneda or an altcoin and its functionality is usually merely financial, whereas an ITO covers a little more, since the tokens are mainly emitted with the blockchain of Ethereum and are the representations of assets that are not always criptomonedas. However, in legal matters, both nomenclatures are treated without distinction.

The laws that regulate ICOs throughout the country (except in the locality of Saskatchewan) state that any entity that is going to launch an initial offer in the country or with potential Canadian investors must be duly registered in the database of the Commission of Values and that these offers, in turn, must be presented in advance to the offices responsible for their evaluation, who will approve and issue a legal document.

The regulation of ICOs in Canada is a major step in the acceptance of cryptographic technology and is also a notable benefit to potential investors in security. However, the community should be aware of other incursions by governments in this area, as it could damage the principle of decentralization of technology.

After a period of much controversy, the blockchain has been welcomed with satisfactory results in Canada, because, for example, in August six ATMs were exchanged to exchange money Fiat for Ether in Toronto.
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