In Canada, the First Cryptocurrency Investment Fund is launched, providing a safe way to invest in bitcoin and with financial and legal credibility, which is an important step in that country in relation to the adoption of criptocurrencies.
The Canadian Securities Commission provides registration and tools for First Block Capital Inc. to begin working as a market distributor as a bitcoin investment fund.
On September 6, the British Columbia Securities Commission announced that it would be permitting the operational status of First Block Capital Inc. The investment fund aims to be the first in Canada to enable investors to safely and legally invest in criptocurrencies. In addition, First Block Capital Inc. will be equipped with tools to help monitor any changes or developments in this new field.
The risks involved with working with criptocurrencies are numerous, but First Block Capital Inc. hopes to attract more traditional types of investors by securing common security standards.
As investors closely follow First Block Capital Inc., they remind business owners who strongly encourage other companies in British Columbia, whether new potential registrants or existing investment fund managers, to contact the British Columbia Securities Commission if they are considering the possibility of making investments of criptocurrencies in their funds. The technical team can help ensure compliance with securities regulation, which can help save time and potential costs later.
If it succeeds in the coming months, First Block Capital Inc. and the British Columbia Securities Commission could pave the way for a growing criptocurrencies market in Canada. The emergence of an investment fund of this type in Canada follows the adoption of bitcoin by Falcon Group, the first Swiss private bank that did, for its customers.