Login
Contact Sales
Login
CONTACT SALES

BCSC targets EU virtual asset platform i-Coin

by | Apr 29, 2020 | Compliance Updates, iComply Insights | 0 comments

BCSC targets EU virtual asset platform i-Coin

Apr 29, 2020 | Compliance Updates, iComply Insights

The British Columbia Securities Commission issues regulatory warning against i-Coin, a European cryptocurrency trading platform

What Happened?

April 29, 2020: Estonia-based cryptocurrency trading platform i-Coin was found to have accepted funds from a British Columbia resident without being recognized as an exchange or registered as a dealer in B.C. According to Canadian legislation, i-Coin’s activities were regulated and the firm has been added to the IOSCO warnings list.

Source: https://www.bcsc.bc.ca/Enforcement/Investment_Caution_List/i-Coin/

Who Is Impacted?

Cryptocurrency trading platforms and virtual asset service providers (VASPs) serving Canadian residents.

Why This Matters?

Many VASPs continue to operate on a global basis, without securing the required licenses or implementing the required KYC and AML compliance systems of the jurisdictions in which they accept users. This enforcement measure signals the importance for businesses to properly secure licensing in every jurisdiction they will accepting users.

What’s Next?

By adding i-Coin to the Investment Caution List, the BCSC has sent a clear message that these practices–although common in the cryptocurrency and fintech industries–are unlawful practices and can result in public enforcement.

VASPs who serve any Canadian user should seek legal and compliance advice from local experts to ensure they have the appropriate license for every jurisdiction in Canada.

learn more

Is your AML compliance too expensive, time-consuming, or ineffective?

iComply enables financial services providers to reduce costs, risk, and complexity and improve staff capacity, effectiveness, and customer experience.

Request a demo today.

iComply Wins Top Enterprise Blockchain Solution
iComply Wins Top Enterprise Blockchain Solution

May 29, 2018

May 29, 2018 Vienna, Austria - iComply Investor Services (iComply), a Canadian RegTech company offering powerful data, verification, and tokenization solutions for multi-jurisdictional digital finance, is announcing that the company was named the top blockchain...

Benzinga – iComply A Top RegTech Solution
Benzinga – iComply A Top RegTech Solution

May 21, 2018

iComply was named a top RegTech solution by Benzinga Global FinTech Awards. The award was announced on May 16 in New York City during the peak of the “NYC Blockchain Week”. The Benzinga FinTech Awards celebrates leading innovations in Fintech and RegTech across the...

Jeff Bandman
Jeff Bandman

Apr 30, 2018

Jeff Bandman is the founder and principal of Bandman Advisors, an advisory practice that helps clients ranging from startups to global firms meet their strategic innovation and regulatory challenges. Bandman Advisors bridges the gap between business and regulation....

Vaidyanathan Chandrashekhar

Vaidyanathan Chandrashekhar

Advisors

“Chandy,” is a technology and risk expert with executive experience at Boston Consulting Group, Citi, and PwC. With over two decades in financial services, digital transformation, and enterprise risk, he advises iComply on scalable compliance infrastructure for global markets.
Thomas Linder

Thomas Linder

Advisors

Thomas is a global tax and compliance expert with deep specialization in digital assets, blockchain, and tokenization. As a partner at MME Legal | Tax | Compliance, he advises iComply on regulatory strategy, cross-border compliance, and digital finance innovation.
Thomas Hardjono

Thomas Hardjono

Advisors

Thomas is a renowned identity and cybersecurity expert, serving as CTO of Connection Science at MIT. With deep expertise in decentralized identity, zero trust, and secure data exchange, he advises iComply on cutting-edge technology and privacy-first compliance architecture.
Rodney Dobson

Rodney Dobson

Advisors

Rodney is the former President of ADP Canada and international executive with over two decades of leadership in global HR and enterprise technology. He advises iComply with deep expertise in international service delivery, M&A, and scaling high-growth operations across regulated markets.
Praveen Mandal

Praveen Mandal

Advisors

Praveen is a serial entrepreneur and technology innovator, known for leadership roles at Lucent Bell Labs, ChargePoint, and the Stanford Linear Accelerator. He advises iComply on advanced computing, scalable infrastructure, and the intersection of AI, energy, and compliance tech.
Paul Childerhose

Paul Childerhose

Advisors

Paul is a Canadian RegTech leader and founder of Maple Peak Group, with extensive experience in financial services compliance, AML, and digital transformation. He advises iComply on regulatory alignment, operational strategy, and scaling compliance programs in complex markets.
John Engle

John Engle

Advisors

John is a seasoned business executive with senior leadership experience at CIBC, UBS, and Accenture. With deep expertise in investment banking, private equity, and digital transformation, he advises iComply on strategic growth, partnerships, and global market expansion.
Jeff Bandman

Jeff Bandman

Advisors

Jeff is a former CFTC official and globally recognized expert in financial regulation, fintech, and digital assets. As founder of Bandman Advisors, he brings deep insight into regulatory policy, market infrastructure, and innovation to guide iComply’s global compliance strategy.
Greg Pearlman

Greg Pearlman

Advisors

Greg is a seasoned investment banker with over 35 years of experience, including leadership roles at BMO Capital Markets, Morgan Stanley, and Citigroup. Greg brings deep expertise in financial strategy and growth to support iComply's expansion in the RegTech sector.
Deven Sharma

Deven Sharma

Advisors

Deven is the former President of S&P and a globally respected authority in risk, data, and capital markets. With decades of leadership across financial services and tech, he advises iComply on strategic growth, governance, and the future of trusted data in AML compliance.