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BCSC grants landmark bitcoin investment fund manager registration

  • Securities - BCSC Image

Sep 06, 2017

On September 6, 2017, the British Columbia Securities Commission (BCSC) announced the first registration of an investment fund manager in Canada solely dedicated to cryptocurrency investments.

The BCSC has granted First Block Capital Inc. registration as an investment fund manager and an exempt market dealer in order to operate a bitcoin investment fund.

Cryptocurrency investments raise risks that are different from traditional asset classes, including the cybersecurity risks inherent in dealing with digital currencies. These risks relate not only to the registrant, but also to the bitcoin fund's custodian, a third party chosen to facilitate the safekeeping and exchange of bitcoins.

Review the press release on the BCSC's website.

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