Ontario Securities Commission Hosts Fintech Hackathon
The Ontario Securities Commission (OSC) has announced it is hosting a regulatory hackathon for blockchain and fintech innovation. The event follows the recent launch of the OSC LaunchPad, a service that engages with fintech startups and provides opportunity. Hackathon Looking for the Wow Factor. The regulatory agency that oversees the Canadian province....
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Ontario Securities Commission's Fintech Advisory Committee includes representatives from some of the leading blockchain and fintech firms. Blockchain technology is gradually becoming synonymous with financial technology. As the demand for distributed ledger related applications in banking and financial industry increases, the financial regulatory bodies are preparing themselves to accommodate such transition. The Ontario Securities Commission, in its effort to facilitate the use of new fintech solutions, has announced the formation of a Fintech Advisory Committee. The regulatory body has....
Canada’s largest securities regulator has stated that open access to data is fundamental to developing fintech solutions like blockchain technology, in a white paper, reports Reuters. Last November, the Ontario Securities Commission (OSC) hosted a hackathon, with the aim of discovering innovative FinTech solutions for the finance sector. Its paper was the result of the hackathon. According to Pat Chaukos, chief of OSC LaunchPad, which is a regulatory sandbox to promote innovative solutions, blockchain can provide answers for problems that companies are experiencing. Chaukos said: You need....
Cryptocurrency exchange Binance has informed the Ontario Securities Commission (OSC) that it is committed to ceasing opening new accounts for Ontario residents and winding down certain services to comply with regulations.
Binance Promises to Increase Efforts to Comply With Regulation
Cryptocurrency exchange Binance sent a letter to the Ontario Securities Commission (OSC) Wednesday.
In the letter, Binance listed a few commitments to the OSC, including “ceasing opening new Ontario accounts,” “ceasing trading in existing Ontario accounts, with....
The Ontario Securities Commission (OSC) has taken action against two cryptocurrency trading platforms. Kucoin is permanently banned from participating in Ontario’s capital markets. Bybit has promised to take steps to comply with regulations and register with the OSC. OSC Sanctions 2 Crypto Trading Platforms The Ontario Securities Commission (OSC) announced Wednesday the outcome of enforcement actions against two foreign cryptocurrency trading platforms operating in its jurisdiction. The first is Bybit, a crypto trading platform operated by Bybit Fintech Ltd., incorporated in the....
The Ontario Securities Commission (OSC) published documentation on Tuesday that claims the Seychelles-based crypto exchange, Poloniex has failed to contact the OSC in order to start compliance discussions. Poloniex meets the OSC’s jurisdiction because the trading platform operates trading accounts for Ontario residents, the OSC’s breach and conduct report notes. OSC Says Poloniex Failed to Communicate With the Ontario Regulator According to Ontario’s top financial regulator, the Ontario Securities Commission (OSC) sent out communications to crypto-asset trading platforms....