ICO Regulations - Ontario Securities Commission (OSC) has approved an Initial Coin Offering which is all set to launch at the beginning of the next month.
The Ontario Security Regulator accepted the token sale which was organized by TokenFunder, which will develop a platform for projects that can be used to raise funds through coin sales of its own. The company is all set to raise funds around $10 million from November 1.
The agency described an optimistic tone by remarking that:
“It is important that we continue to foster innovative new ways to raise capital and invest, and this announcement is a testament to the dedicated support we are providing in this space.”
As a part of the legal framework surrounding the campaign, TokenFunder will treat its coins through offering as secure. TokenFunder follows Quebec-based Impak Finance as one of the first company in Canada to launch an ICO under the Oversight of a state regulator.