New guidance for issuing digital currencies in Canada may make them safer for investors but they’ve also prompted one company to shun its home country as it kicks off one of the largest initial coin offerings to date.
The experience of Impak Finance Inc., which launched Canada’s first ICO with regulatory blessing this year, and Kik Interactive Inc., which decided to exclude the country’s investors from its planned $125 million offering, underscores the difficulty for countries grappling with a $2 billion market that’s been a magnet for fraud while trying to nurture financial innovation.
