Canada Seeks Overhaul of Securities Regulations to Address Crypto Exchange Risks
Canadian officials are looking to modify their securities regulations to include exchanges and reduce risk to consumers, Bloomberg this week. According to reports, the officials are asking for feedback to help them create a ‘tailored framework’ for oversight of the industry:
The Canadian Securities Administrators, an umbrella organization of provincial and territorial regulators, is seeking comment on a tailored framework “to address the novel features and risks” of platforms that trade crypto assets. These include a potential lack of investor safeguards, conflicts of interest, a dearth of price transparency and inadequate security controls, it said.
In an interview with Bloomberg, the Ontario Securities Commission’s Launchpad deputy director Pay Chaukos cited a lack of regulatory consistency in Canada. Securities officials regulate based on which crypto assets are being traded and how exchanges operate, which has created an environment in which some platforms are regulated while others are not.
Chaukos reportedly refused to comment on whether officials were reacting to the ongoing Quadriga exchange controversy. He did, however, suggest that regulators are acting in response to industry requests for sensible :
“This consultation is really directly responsive to what we’ve heard from these platforms. They’ve told us that a regulatory framework is welcome because they’re trying to build consumer confidence and expand their businesses across Canada and in some cases globally.”
It is becoming increasingly apparent that the future didn’t quite go as we had thought, not yet that is. With flying cars and teleportation machines still high on the wish list of humanity, we make do by identifying and exploring new scientific frontiers – fuel for our imaginations and dreams.
[Note: This is a press release.]
It’s almost magical: knowing that out there, somewhere, is a powerful new source of energy, money and vital resource, ready to be mined.
It’s not just blockchains that are plentiful in their coveted bounties, and the internet is not the only resource-rich environment in our known universe. From our terrestrial economies, we take a giant leap towards space and look to Asteroid Coin to guide us towards the riches of outer space.
In a trailblazing effort and world-first, the people at are making what seems like fiction, a reality. Powered by Ethereum, the ambitious ASTR tokens will allow users to register claims to the estimated 600,000 identified asteroids in our near celestial orbit, using smart contracts and the revolutionary BlockClaim mechanism.
According to the website:
The BlockClaim® mechanism is modeled after ICANN, a system familiar to us all, whereby individuals who desire to “claim” a website address apply for a specific website and register their domain.
There is an eye-watering approximation of $700 Quintillion dollars-worth of minerals within this asteroid belt. By using ASTR tokens, users can stake their BlockClaim to a specific asteroid within the decentralized database.
Digital magazine Brain Dump reports:
A single, 500-meter diameter asteroid contains more platinum than has ever been mined in the history of the Earth? There are over 2 million of these space rocks orbiting in the Asteroid Belt too, with an estimated billion dollars’ worth of platinum in each one. Including the gold, iron, nickel, water and other valuable elements that can be found there, NASA has estimated the mineral wealth of the entire Asteroid Belt could be as much as $700 quintillion or a seven followed by 20 zero. That’s $100 billion for every one of the 7 billion people on Earth!
A BlockClaim can only be registered with an ASTRCOIN, giving the token an integral liquidity — a crucial part of the ecosystem itself.
Presently, the ICO Pre-Sale is up and running, having started November 6th, 2017. The pre-sale will continue until the 20th of November, 2017. Pre-sale participants get a generous early adopter discount of 75%.
The ICO will then open to the public, issuing only 100,000,000 tokens out of their 200,000,000 token supply, which will scale down the discounts through week 1 – 4.
ASTRCOINS will also be available for trading on cryptocurrency exchanges once the Token Generation Event is over, while still maintaining their primary usage of being a means to register your BlockClaim.
To find out more about the maverick project .
ASTRCOIN is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
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