Decentralized Venture Ecosystem

Advocacy

The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners, and affiliates to create a vibrant and innovative fintech and funding industry in Canada.  Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain and cryptocurrency, regtech, and insurtech sectors.

The NCFA Canada works to reach this destination by:

  • Researching, consulting, partnering and advocating for sensible solutions to key issues that impact industry
  • Educating businesses, entrepreneurs, investors, the public, media and regulatory bodies regarding trends, initiatives, regulations, and emerging best practices
  • Developing strategic program initiatives that impact members and their daily interactions with industry
  • Provide market and venture development services and networking opportunities to contributing members
  • Establishing a relevant and strong membership network that contributes to NCFA Canada policy and provides networking opportunities with professionals in the industry
  • Assisting members and the public in identifying and reporting fraud
  • Advocate the growth of a collaborative and dynamic alternative finance and venture funding ecosystem

View:

NCFA OpEd: Canada's Open Banking: Let's Get It Done! (Dec 3, 2020)

NCFA Response to Ontario's Capital Markets Modernization Taskforce Consultation (Sep 7, 2020)

NCFA Response to CSA on NI 45-110 Harmonized Securities Crowdfunding Rules  (May 27, 2020)

NCFA Open Letter: Government should collaborate with Fintechs during the COVID-19 pandemic to give Startups and SMEs a Fighting Chance on April 15, 2020

NCFA Response to ASC Consultation Paper 11-701: Energizing Alberta’s Capital Market on Sep 22, 2019

NCFA Comments: CSA/IIROC Joint Consultation Paper 21-402: Proposed Framework for Crypto-Asset Trading Platforms on May 2019

March 1, 2019: NCFA Submission to the Ontario Securities Commission on Regulatory Burden on Mar 1, 2019

NCFA Letter to Ontario Economic Development on Burden on Jan 31, 2019

Re: OSC Notice 11-780 Statement of Priorities – Request for Comment Regarding Statement of Priorities (the “SofP”) for Financial Year to End March 31, 2019 on May 28, 2018

NCFA Canada’s response to BCSC Notice 2018/1 ‘Consulting on the Securities Law Framework for Fintech Regulation’ on Apr 3, 2018

NCFA Canada’s submission to Finance Canada (March 2018): Urgent Need for Regulatory Change and Government Support on Mar 15, 2018

NCFA submission to Ontario Minister of Finance: Urgent Need for Regulatory Change (report | summary) on Oct 18 2017

NCFA Submission to Ontario Ministry of Finance: Urgent Need for Regulatory Change on Nov 4, 2017

NCFA meeting with OSC - briefing notes on Aug 24, 2017

NCFA meeting with BCSC - briefing notes on Aug 15, 2017

NCFA Response to ASC Request for comments 45-108 on Sep 9, 2018

OPEN LETTER: Lifting the Veil on Peer-to-Peer Lending in Canada on March 30, 2016

NCFA Canada Response to Russell’s Call to Dispense with Equity Crowdfunding on Jan 15, 2016

NCFA Canada Response to the Proposed Multilateral Instrument 45-108 Crowdfunding on June 18, 2014

NCFA Canada Response to the Proposed Multilateral Instrument 45-108 Crowdfunding and Start-Up Prospectus Exemption on June 18, 2014

NCFA Canada Response to British Columbia Notice 2014/03 – Proposed Start-Up Crowdfunding Exemption on June 18, 2014

Canada’s National Crowdfunding Association Applauds Regulators for Setting the Stage for Crowdfunding Success on March 24, 2014

Let’s protect investors from risky startups: NCFA Canada response on December 11, 2013

NCFA Canada Response to FCAA (Nov 6, 2013): Consultation on General Order 45-925 on November 6, 2013

Dispelling Myths #5 and #6: “Extraordinary popular delusions and the madness of crowdfunding” by NCFA Canada on August 18, 2013

Dispelling Myths #3 and #4: “Extraordinary popular delusions and the madness of crowdfunding” by NCFA Canada on August 8, 2013

Dispelling Myths #1 and #2: “Extraordinary popular delusions and the madness of crowdfunding” by NCFA Canada on August 3, 2013

NCFA Canada: Equity Crowdfunding Principles & Response to OSC Staff Consultation Paper 45-710 on March 9, 2013

 


NCFA Jan 2018 resize - AdvocacyThe National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org

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Cato Institute | Jennifer J. Schulp and Nicholas Anthony | Jan 14, 2022 Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), has set an ambitious agenda for the agency. Whatever one thinks about that agenda, it’s a lot to get done, even for a hard‐​charging, get‐​things‐​done guy like Gensler. Rulemaking is not a quick process, but Gensler seems to have found a way to shepherd his agenda through a bit faster: decreasing the time allotted for the public to comment on proposed rules. But failing to provide adequate time for public comment can diminish the voices of investors and market participants in the rule‐​making process. More so, it may hamstring the SEC in identifying the consequences of the proposed rules. See:  FinCEN Extends Comment Period for Closing AML Regulatory Gaps for Digital Asset Transactions The extent of the short‐​comment‐​period trend came to light when Senator Patrick Toomey (R‑PA) and Representative Patrick McHenry (R‑NC) pointed out that the SEC proposals under Gensler’s leadership have given the public less than 60 days to comment. This trend is a break from the norm, where executive orders, including under the Obama Administration, have recognized that 60 days is typically considered the minimum time frame for comments to be submitted ...
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New York Times | Shira Ovide | Jan 18, 2022 Microsoft is making a big bet on video games, and even if you’re like me and don’t really play them, it’s worth taking notice. Microsoft said on Tuesday that it would buy Activision Blizzard, which makes video games including Candy Crush and Call of Duty. Microsoft will pay close to $70 billion for the game maker, a lot of money even for such a rich company. Activision slots into Microsoft’s other video game businesses, including the Xbox game console and video game makers like Halo and Minecraft. See:  Inside the metaverse economy, jobs and infrastructure projects are becoming real But Microsoft’s acquisition also shows that video games are not merely entertainment anymore. They have become weapons that today’s technology titans wield to try to shape our future in their preferred direction. I’m talking about the “metaverse,” the terrible shorthand that technologists have adopted for a broad vision of a future internet that will further blur the lines between online life and real life, and between people and computers. The metaverse is hard to define. (We could just call it the next phase of the internet, but I guess that’s too ...
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Cato Institute | Norbert Michel | Jan 14, 2022 Emmer introduced legislation to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) for use by individuals. This week Rep. Tom Emmer (MN–R) introduced legislation to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) for use by individuals. A CBDC of this nature goes by several names, but it is just a private account for individual customers at the central bank, an institution that historically serves commercial banks. In his press release, Emmer noted that “to maintain the dollar’s status as the world’s reserve currency in a digital age, it is important that the United States lead with a posture that prioritizes innovation and does not aim to compete with the private sector.” Emmer deserves high praise for taking such a principled stand for the private sector over further government centralization and control. See:  ‘Ready to Go’: Powell Says Fed Report on Crypto and CBDCs will drop in the coming weeks He clearly understands what’s at stake with a CBDC, and Americans can only hope that many other members of Congress share his sympathies. With any luck, the Federal Reserve researchers working on the Fed’s upcoming CBDC report — one that could be released ...
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Crowdfund Insider | JD Alois | Jan 12, 2022 Seedrs, a leading UK-based securities crowdfunding platform that is merging with Republic, has provided a retrospective of 2021 performance. According to Seedrs, 2021 was a year that delivered record-level funding. The top-line numbers are as follows: £696 million invested into securities offerings 310 funded deals 102 securities offerings of over £1 million A 90% funding success rate 12 portfolio companies delivered profitable company-level exits in 2021. See:  $100M Crowdfunding Deal: Republic acquires the UK’s Seedrs for European expansion The largest private offerings listed on Seedrs include: Lick – £15 million – most funded Ziglu – £7.326 million or 724% as the highest percentage funded Chapel Down – £6.95 million involving 4172 investors – the most investors of any securities offering Seedrs not only facilitates capital formation in the UK but is active in continental Europe having funded 33 EU businesses during 2021. Investors harken from 74 different countries. A key feature of the Seedrs platform is its successful secondary market – a service that has been years in the making as private securities trading is a challenging task. Seedrs reports that during 2021 trading increased by 60% versus 2020 with £8 ...
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FinBold | Jordan Major  | Jan 16, 2022 The Bitcoin mining sector has piqued the interest of several countries over the last year, and it appears that the United States government is starting to become interested in this market. As a result, a hearing has been scheduled in the US to explore the ramifications of the energy consumption incurred by cryptocurrency mining operations. Indeed the Subcommittee on Oversight and Investigations of the Committee on Energy and Commerce will conduct a public hearing on the subject next Thursday, January 20, according to the House Committee. “The Subcommittee on Oversight and Investigations of the Committee on Energy and Commerce will hold a hybrid hearing that includes both in-person and remote attendance on Thursday, January 20, 2022, at 10:30 a.m.” See:  Landmark Jury Verdict Finds Digital-Asset Products Linked to Cryptocurrency Mining Are Not Securities The investigation is titled “Clearing Cryptocurrency: The Energy Implications of Blockchains,” and in particular, the Subcommittee is interested in learning about the energy consumption of blockchains, with the premise that they may create environmental concerns in the future. On the scheduled day, the hybrid hearing will also live stream on YouTube. Congress’ energy subcommittee to discuss cryptocurrency Bitcoin has ...
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McKinsey Digital | Matteo Biondi, Anna Heid, Nicolaus Henke, Niko Mohr, Lorenzo Pautasso, Ivan Ostojic, Linde Wester, and Rodney Zemmel | Dec 14, 2021 A burgeoning quantum-computing ecosystem and emerging business use cases promise to create significant value for industries—if executives prepare now. Accelerating advances in quantum computing are serving as powerful reminders that the technology is rapidly advancing toward commercial viability. In just the past few months, for example, a research center in Japan announced a breakthrough in entangling qubits (the basic unit of information in quantum, akin to bits in conventional computers) that could improve error correction in quantum systems and potentially make large-scale quantum computers possible. And one company in Australia has developed software that has shown in experiments to improve the performance of any quantum-computing hardware. As breakthroughs accelerate, investment dollars are pouring in, and quantum-computing start-ups are proliferating. Major technology companies continue to develop their quantum capabilities as well: companies such as Alibaba, Amazon, IBM, Google, and Microsoft have already launched commercial quantum-computing cloud services. Of course, all this activity does not necessarily translate into commercial results. While quantum computing promises to help businesses solve problems that are beyond the reach and speed of conventional ...
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Moxie Marlinspike blog | Jan 7, 2022 Despite considering myself a cryptographer, I have not found myself particularly drawn to “crypto.” I don’t think I’ve ever actually said the words “get off my lawn,” but I’m much more likely to click on Pepperidge Farm Remembers flavored memes about how “crypto” used to mean “cryptography” than I am the latest NFT drop. Also – cards on the table here – I don’t share the same generational excitement for moving all aspects of life into an instrumented economy. Even strictly on the technological level, though, I haven’t yet managed to become a believer. So given all of the recent attention into what is now being called web3, I decided to explore some of what has been happening in that space more thoroughly to see what I may be missing. How I think about 1 and 2 web3 is a somewhat ambiguous term, which makes it difficult to rigorously evaluate what the ambitions for web3 should be, but the general thesis seems to be that web1 was decentralized, web2 centralized everything into platforms, and that web3 will decentralize everything again. web3 should give us the richness of web2, but decentralized. See:  Inside the ...
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CNBC | Cameron Costa | Jan 15, 2022 If 2021's word of the year was "NFT," Avery Akkineni says 2022's will be "Web 3.0." This year, digital assets built on the blockchain will likely continue to expand well beyond the music and art industries. Luxury fashion brand Balenciaga has already teamed up with Fortnite to deliver to users designer "skins" to wear inside the game. Gucci has done the same with Roblox, and Louis Vuitton and Ralph Lauren have launched their own Roblox experiences. Brian Trunzo, metaverse Lead at Polygon Studios, which focuses on gaming, NFTs and Web3 efforts linked to the polygon digital currency and ethereum blockchain network, says nimble, smart streetwear brands are already in the space as well. "The players have finally taken the field, and the game is about to truly start," Trunzo said. More direct commercialization strategies could be coming. Cathy Hackl, CEO and chief metaverse officer for the Futures Intelligence Group, a metaverse consultant, points out that for luxury brands in particular, the metaverse could be an access point for a secondary market. See:  Bracing For Change In The Era Of The Augmented Workforce "When someone sells their Birkin bag on The RealReal, Hermes ...
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Fortune | Grady McGregor | Jan 10, 2022 New estimates claim the CEO of cryptocurrency exchange Binance, Changpeng Zhao, is the world’s richest crypto billionaire, with a net worth rivaling the sums amassed by tech billionaires Elon Musk, Jeff Bezos, Bill Gates, and Mark Zuckerberg. On Monday, Bloomberg calculated that Zhao’s net worth is $96 billion, which would make him the 11th richest person in the world. On the Bloomberg Billionaires Index, Zhao, known as “CZ” in crypto circles, is now sandwiched between No. 12, Mukesh Ambani, CEO of Indian conglomerate Reliance Industries, and No. 10, Larry Ellison, cofounder of Oracle, who’s worth an estimated $107 billion. See:  Binance hires ex-regulators and incorporates in Alberta to charter compliance course in Canada OSC to Binance Investors ‘Not So Fast’: Binance Canada Receives License to Operate as Money Service Business Bloomberg says its estimate is based on Zhao’s stake in Binance, reporting that the exchange generated upwards of $20 billion in revenue in 2021 and that Zhao owns 90% of Binance’s shares, according to a review of the firm’s regulatory filings. Zhao’s net worth may be even higher than $96 billion since Bloomberg did not account for Zhao’s personal holdings of Bitcoin ...
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Fintech Confidential Issue 4 | Éliane Ubalijoro, PhD | Jan 13, 2022 A year and a half into the COVID-19 pandemic, the global economy is looking cautiously at recovery. According to the World Bank, growth will be very uneven given surges of virus variants, patchy vaccination rates, and withdrawal of government support measures, so global GDP in 2021 is still expected to be 3.2% below pre-pandemic projections. To support a more equitable and sustainable recovery, it is imperative that our economic systems recognize how they need to be underpinned by "flourishing communities, strong and resilient social institutions, thriving natural ecosystems and a stable climate” as the Capitals Coalition  articulates. As a member of their supervisory board, I truly believe that we must empower organizations to understand that their success and the success of the global economy more broadly is fundamentally dependent on natural, social, and human capital, in addition to produced capital. We must work to curb greenhouse gas emissions in all the ways we produce goods and services, whether it is how we impact, air quality, energy management, water quality, how we reduce waste streams and maximize circular economies to minimize our ecological footprint. We must ask ourselves how ...
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