Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Blockchain, Crypto, Digital Assets Regulations
Winklevoss’ Gemini to Refund $1.1 Billion After NYDFS Findings
Enforcement News | Feb 29, 2024
Image from Gemini blog
Gemini agrees to a $1.1 billion refund plan after NYDFS findings
The New York State Department of Financial Services (NYDFS) has announced an agreement with Gemini Trust Company, LLC, mandating the return of at least $1.1 billion to customers of its Earn program. This decision follows the discovery of compliance failures and the mishandling of a partnership with Genesis Global Capital, LLC (GGC), which led to substantial customer losses. The settlement includes a $37 million fine and outlines Gemini's commitment to rectify the situation through the bankruptcy proceedings of GGC.
- Gemini's pledge to reimburse $1.1 billion to Earn customers represents a substantial effort to address the fallout from the Earn program's suspension and Genesis Global Capital's subsequent bankruptcy.
See: New York Takes Legal Action Against Major Crypto Firms
- This settlement highlights a shift towards stronger protections for cryptocurrency investors, particularly in response to the risks associated with lending programs and third-party partnerships. The NYDFS has imposed a $37 million penalty on Gemini for various compliance failures, emphasizing the importance of regulatory adherence in the cryptocurrency sector.
- Gemini's operational practices, including insufficient due diligence and inadequate reserve maintenance, have led to significant reputational and financial damage, affecting over 200,000 customers.
Gemini's Response to the Resolution
In a blog post from Team Gemini said, "This settlement, pending Bankruptcy Court approval, promises the return of 100% of digital assets to Earn users, including any appreciation since the assets were lent. Gemini expects to return over $1.8 billion in today's value, with users receiving approximately 97% of their assets in kind within about two months and the remainder within the next 12 months.
See: Binance Withdraws from Canadian Market due to Tightened Crypto Regulations
Gemini also acknowledges the New York Department of Financial Services' role in reaching this settlement and commits an additional $40 million to aid users' recovery, emphasizing their dedication to customer asset security and appreciation for users' patience throughout the process."
Outlook
The NYDFS's action against Gemini Trust Company, LLC, culminating in a $1.1 billion customer reimbursement plan is another cautious warning to other platforms regarding the importance of compliance, due diligence, and the protection of consumer assets. This development is expected to influence future regulatory frameworks and operational standards within the digital asset market, aiming to foster a safer and more reliable trading environment for investors.
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, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Republican Senators Move to Block CBDCs in U.S. (again)
News | Feb 27, 2024
Republican senators have once again introduced a bill aimed at prohibiting the Federal Reserve from issuing a Central Bank Digital Currency (CBDC) in the United States, citing privacy intrusions.
Titled "The CBDC Anti-Surveillance State Act," the bill reflects deep concerns over privacy and the potential for government overreach into citizens' financial transactions. There is a growing political divide over digital currency policy and its implications for personal freedom and national sovereignty.
See: CBDCs in Canada and Impact Drivers on Banking Choices
- Spearheaded by Sen. Ted Cruz (R-Texas) and supported by Sens. Bill Hagerty (R-Tenn.), Rick Scott (R-Fla.), Ted Budd (R-N.C.), and Mike Braun (R-Ind.), the legislation marks another attempt by Republican lawmakers to halt the progress of a CBDC in the U.S., citing threats to privacy and freedom.
- The bill emerges against a backdrop of heightened political rhetoric, with the Biden administration accused of seeking to infringe on citizens' privacy through the surveillance of personal spending habits. The Federal Reserve, currently in the basic research phase regarding a CBDC, has stated it would not proceed without authorization from Congress and the White House.
- The debate over a CBDC has become a campaign talking point, with former President Donald Trump promising to ban the creation of a CBDC, framing it as a defense against government tyranny. Trump said:
“Tonight, I am also making another promise to protect Americans from government tyranny. As your president, I will never allow the creation of a central bank digital currency.”
Why It Matters
The introduction of anti-CBDC legislation by Republican senators highlights the complex interplay between innovation, privacy, and governance in the digital age.
See: Is USDCs Blockrock Money Fund a Back door CBDC?
As countries around the world advance their CBDC initiatives, the U.S. faces a decision on how to balance the potential benefits of digital currencies with the imperative to protect individual freedoms. This legislation reflects concerns over privacy and autonomy but also signals the broader geopolitical and economic considerations at play in the global shift towards digital currencies.
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, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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CZs Sentencing Delayed to Late April, Fuelling Speculation
News | Feb 13, 2024
Image by Drazen Zigic on Freepik
Binance Founder, Changpeng Zhao (CZ), Sentencing has been Postponed to April 30, 2024
Changpeng Zhao (CZ), the founder of Binance, faces up to 18 months in prison over money laundering charges, according to a recent update. However, a filing by the prosecution indicated that he might face a harsher punishment than initially expected, with the possibility of any sentence up to the statutory maximum of ten years. The court has rescheduled CZ's sentencing which was originally scheduled for February 23 to April 30, 2024, extending the timeline for legal proceedings.
See: Trust Fallacy: 75% of Payment Fraud in Crypto is Carried Out by KYC-verified Accounts
Former U.S. Securities and Exchange Commission official John Reed Stark suggested that Zhao could face a 12–18 month sentence at a minimum security prison under U.S. sentencing guidelines. Nonetheless, Zhao's legal team is expected to request no jail time or an alternative sentence, combining prison time with home detention and probation. Currently, Zhao is out on bail on a $175 million bond and resides in the U.S. awaiting his sentencing.
The specific reasons for the delay have not been publicly disclosed, but such postponements are not uncommon in complex legal cases involving financial regulations and international operations.
The case against Changpeng Zhao is part of a broader trend of increasing regulatory scrutiny on cryptocurrency exchanges and other digital asset service providers. Regulators worldwide are focusing on compliance with anti-money laundering (AML) standards, know your customer (KYC) procedures, and other regulatory mandates to ensure the integrity and stability of financial markets. The postponement and eventual outcome of CZ's sentencing are of great interest to investors, regulatory bodies, and other market participants.
See: The Vanguard of Decentralized Exchanges (DEX)
While the exact details of the potential punishment remain speculative until the court's final decision, the charges against Zhao could lead to significant legal repercussions and stiffer sentence. These may include hefty fines and possibly restrictions on his and Binance's operations, depending on the nature of the violations and the court's final judgment.
Outlook
This delay in sentencing allows for further speculation and preparation among stakeholders within the cryptocurrency industry. The outcome of this case could set important precedents for how digital asset companies operate and are regulated on a global scale.
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, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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SEC Expands ‘Dealer’ Definition That Could Ensnare DeFi
Regulation | Feb 8, 2024
Image by Freepik
SEC Expands 'Dealer' Definition, Impacting DeFi and Markets
The U.S. Securities and Exchange Commission (SEC) has adopted new rules broadening the definition of a 'dealer,' which could now encompass significant participants in the decentralized finance (DeFi) sector. This regulatory shift mandates entities engaging in liquidity-providing roles to register as dealers, aligning with efforts to bolster market transparency, integrity, and investor safety. The move has sparked a mix of support and criticism, highlighting its potential wide-reaching implications.
- The SEC's rules, Exchange Act Rules 3a5-4 and 3a44-2, clarify activities that constitute as 'dealer' functions, requiring registration and compliance with federal securities laws.
- The rule as adopted states: "Any market participant that engages in activities as described in the rules would be a “dealer” or “government securities dealer” and, absent an exception or exemption, required to:
- Register with the Commission under Section 15(a) or Section 15C, as applicable;
- Become a member of an SRO; and
- Comply with federal securities laws and regulatory obligations, including as applicable, SEC, SRO, and Treasury rules and requirements."
- Affected market participants must register with the SEC, become members of a self-regulatory organization (SRO), and adhere to a comprehensive set of regulatory obligations.
See: Prometheum’s Controversial ETH Custody Launch
- The expanded definition raises concerns within the DeFi community about the feasibility of compliance, potentially stifling innovation and growth in the sector.
- Ongoing legal battles over the classification of cryptocurrencies as securities could further influence the regulatory landscape for DeFi and crypto-related activities.
Commissioner Peirce Criticizes Final Rule
Commissioner Peirce expresses her inability to support the final rule, criticizing it for perpetuating the proposal's fundamental flaw and for being inconsistent with the statutory framework. She believes the rule will distort market behavior and degrade market quality.
The rule is seen as turning traders, many of whom are customers, into dealers, which runs counter to the statute as interpreted by the Commission and market participants for decades. Peirce argues that this obliterates the long-standing dealer-trader distinction.
See: SEC’s Escalating Crypto Enforcement
Peirce warns that the rule penalizes liquidity provision, potentially leading to reduced market liquidity and driving competitors out of the markets. She highlights the rule's costly and ill-fitting regulatory regime for liquidity-providing market participants, which could deter them from activities that contribute positively to market liquidity. She suggests that the rule could lead to a more concentrated and homogenous group of liquidity providers, making both these firms and the market more fragile.
The rule's broad application could force entities that do not have characteristics of dealers under the current understanding to register as dealers. This includes entities executing common trading, investing, and risk management strategies that incidentally provide significant liquidity to the market.
Commissioner Mark Uyeda Disagrees Too
After the new rules were adopted, Commissioner Uyeda expressed a dissenting view, criticizing them for being unclear and problematic. He pointed out that the rules fail to clearly define dealer status, leading to potential broader interpretations beyond the Treasury market.
Commissioner Mark Uyeda disagrees with the decision:
“The lack of any limiting principle creates the potential for arbitrary and capricious government action. Further, today’s action may reduce liquidity in the Treasury markets, make them more volatile, reduce the number of liquidity providers, and increase debt costs to taxpayers.”
Why It's Important
By bringing more market participants under its regulatory umbrella, the SEC aims to enhance market integrity and protect investors. However, this move raises important questions about the balance between regulation and innovation, the practicality of compliance for decentralized entities, and the future of liquidity provision in the markets.
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, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Prometheum’s Controversial ETH Custody Launch
Digital Assets | Release | Feb 8, 2024
Image by Freepik
Prometheum Launches Ethereum Custodial Services. A Controversial Step Towards Regulatory Clarity?
Prometheum Inc. officially announced the launch of custodial services for Ethereum's ether (ETH) token, on February 7, 2024, as a direct result of Prometheum's subsidiary, Prometheum Capital LLC, receiving approval from the Financial Industry Regulatory Authority (FINRA) as a Special Purpose Broker-Dealer (SPBD). This approval allows the firm to custody, clear, and settle digital asset securities, setting a new precedent for the digital asset sector in a manner that complies with U.S. financial regulations. This approval is a big deal because it shows that Prometheum is operating within the legal framework set by regulatory bodies, which is not always common in the crypto space.
See: Post-Merge Will Ether Be Closer to a Security?
- By opening up its services to institutional clients like asset management firms, hedge funds, and banks, Prometheum is paving the way for more significant investments in cryptocurrencies from these entities. Institutional investors have traditionally been cautious about entering the crypto market due to regulatory uncertainties and security concerns. Prometheum's regulated and compliant platform could encourage more institutional money into the crypto space, potentially increasing the market's stability and maturity. The service is set to launch in Q1 2024.
- One of the most controversial aspects of this announcement is the implication that ETH could be considered a security. If ETH is custodied under a FINRA member firm and an SEC-registered broker-dealer, it suggests a level of regulatory scrutiny and acceptance that could influence how cryptocurrencies, particularly Ethereum, are viewed and regulated in the future.
- A precedent could be set for other cryptocurrencies and digital assets, showing that it is possible to operate within the existing regulatory framework. This could lead to more crypto firms seeking regulatory approval and compliance, contributing to a more regulated and less volatile crypto market.
See: Ethereum’s Market Dynamics and Outlook in 2024
- Prometheum's plan to extend its services to include trading, clearing, and settlement for both retail and institutional clients indicates a move towards creating a comprehensive, blockchain-enabled market infrastructure. This could make digital asset trading more accessible and safer for a broader audience, further integrating cryptocurrencies into the mainstream financial ecosystem.
Cautious Optimism
This development, while seen as a pioneering effort to bridge the gap between traditional finance and the burgeoning world of cryptocurrencies, has also raised eyebrows and sparked debates across the industry about the classification of Ethereum as a security or a commodity. A clear stance from the Securities and Exchange Commission (SEC) on this matter, prompted by Prometheum's custodial services, could provide much-needed regulatory clarity for the industry.
Critics argue that by potentially classifying Ethereum as a security, Prometheum's actions could impose stringent regulatory burdens on the broader crypto industry, stifling innovation and limiting the decentralized ethos that cryptocurrencies were built upon. There is a fear that such a move could lead to increased regulatory scrutiny on other cryptocurrencies, altering the landscape of the crypto market in unpredictable ways.
See: SEC Greenlights Bitcoin ETFs. Is Ethereum Next?
The controversy also stems from concerns about the centralization of custodial services. By holding investors' digital assets, custodial services like those offered by Prometheum could concentrate power and control, moving away from the decentralized model that many in the crypto community advocate for.
Conclusion
Prometheum's launch of Ethereum custodial services is a watershed moment for the crypto industry. As the industry grapples with related issues, the launch could set important precedents for the future of cryptocurrency regulation and adoption. For stakeholders in the crypto and financial sectors, including members of the National Crowdfunding & Fintech Association (NCFA) of Canada, this development serves as a reminder of the challenges and opportunities that lie ahead.
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, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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B.C. Supreme Court Rejects Crypto Miner’s Power Bid
News | Feb 6, 2024
Image: Unsplah/Robert Linder
Court Denies Crypto Miner's Power Request
Conifex Timber Inc., a forestry company that ventured into cryptocurrency mining, faced a setback in its efforts to secure a substantial power supply from BC Hydro for its operations. The B.C. Supreme Court, led by Justice Michael Tammen, upheld the provincial government's decision to temporarily halt new power connections for cryptocurrency miners, a policy introduced in December 2022 to last for 18 months. This decision was deemed "reasonable," reflecting a cautious approach towards the allocation of the province's electrical resources.
See: Bitfarms Ltd. Announces Upgrade to Its Mining Operations
Cryptocurrency mining, known for its intensive energy consumption due to the continuous operation of high-powered computers, has been a topic of debate regarding its economic benefits versus environmental impact. BC Hydro's CEO, Christopher O’Riley, highlighted the enormity of the power demand by revealing that the data centers proposed by Conifex would have required 2.5 million megawatt-hours of electricity annually, an amount sufficient to power over 570,000 apartments. This revelation brings to light the significant energy footprint associated with such operations, raising questions about the sustainability of large-scale cryptocurrency mining.
Misalignment?
The Energy Minister, Josie Osborne, pointed out that despite the high energy consumption, cryptocurrency mining contributes "very few jobs" to the local economy, suggesting a misalignment with broader economic development goals.
See: Hut 8 Mining’s Merger with USBTC Gets BC Supreme Court Nod
Conifex's response to the court's decision was one of disappointment, with the company expressing its belief in the missed opportunities for the provincial government to enhance energy affordability, foster technological innovation, and achieve more inclusive economic growth.
Outlook
The issue utility providers worldwide must address is the challenge of balancing the power demand from cryptocurrency mining with the goals of clean energy and electrification, especially as the adoption of electric vehicles and heat pumps increases. The global context of cryptocurrency mining, with moratoriums in places like China, Algeria, and some U.S. states, has led to a surge in demand for power in regions like British Columbia, further complicating the energy landscape.
See: White House Proposes 30% Digital Asset Mining Energy (DAME) Excise Tax
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, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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UK Digital Securities Sandbox: A Guide and Implications
UK Digital Sandbox | Feb 6, 2024
Image by fullvector on Freepik
The UK's Digital Securities Sandbox Regulations Are A Catalyst for Global Fintech Innovation
The Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023, which came into effect on January 8, 2024 and introduces the UK's first digital securities sandbox, allowing firms to explore new technologies within a flexible legislative framework. The move is a clear signal of the UK's ambition to modernize its financial market infrastructure through digital asset technology, with a particular emphasis on distributed ledger technology (DLT).
The Role of DLT in Financial Market Infrastructure
DLT is at the heart of this legislative innovation. Its decentralized nature offers a transformative potential for the operation of central securities depositories and trading venues. By enabling direct ownership of investments and bypassing intermediaries, DLT could significantly enhance transparency and efficiency in the financial markets.
See: UK Releases Digital Asset Consultation Results
The technology promises round-the-clock operations, near-instantaneous settlement, and the potential for new models of shareholding, trading, and settlement services.
Legal and Regulatory Adjustments
The implementation of the digital securities sandbox necessitates a series of legal and regulatory adjustments to ensure that digital transactions are recognized and facilitated within the UK's legal framework, addressing potential issues such as the registration of transfers and the maintenance of company records on a distributed ledger. Key areas of focus include amendments to:
- The Companies Act 2006 to accommodate DLT in the trading, settlement, and maintenance of shares;
- The Central Securities Depository Regulation; and
- The Uncertificated Securities Regulations 2001 also require modifications to align with DLT's capabilities.
Who Can Use the Sandbox and How Does It Work?
The sandbox is open to UK-established entities that meet specific eligibility criteria set out in the Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023. These entities include, but are not limited to, financial services firms, technology companies, and other organizations that are exploring innovative financial products, services, or business models that utilize digital securities and DLT.
- Firms interested in participating in the digital securities sandbox must apply to enter the program. The application process involves submitting a detailed proposal of the technology or innovation to be tested, including how it intends to use DLT or other digital asset technologies within the financial market infrastructure. The proposal must also outline the objectives of the test, the expected outcomes, and how it aligns with the sandbox's goals.
See: European Blockchain and DLT for SMEs Guide
- To be accepted into the sandbox, applicants must demonstrate that they are UK-established entities and meet the eligibility criteria specified in the regulations. This includes the ability to show that the proposed innovation requires testing within the sandbox environment due to its novel or unique nature and that the firm has the necessary resources and plans in place to manage the test effectively.
- Participants in the sandbox are allowed to test their innovations under a modified legislative framework. This means certain regulations may be applied, disapplied, or modified to facilitate the testing of new technologies. Firms must clearly understand which regulatory modifications apply to their test and ensure compliance with the sandbox's conditions.
- Sandbox participants are required to provide regular updates (reporting) and feedback to the regulators, including the Financial Conduct Authority (FCA) and the Bank of England, if applicable. This includes reporting on the progress of the test, any challenges encountered, and the outcomes achieved. The regulators may also set specific evaluation criteria to assess the test's success and its potential impact on the market and consumers.
- Firms must have a clear exit strategy for concluding their test within the sandbox. This includes plans for winding down the test in a way that minimizes any adverse effects on consumers and the market. Upon exiting the sandbox, firms may be required to submit a final report summarizing the test's findings and any next steps for implementing the innovation outside the sandbox environment.
See: Bank of Canada, TMX say blockchain feasible for securities settlement
The sandbox offers a unique opportunity for firms to explore and develop innovative digital securities solutions within a supportive regulatory environment. By participating in the program, firms can contribute to the evolution of the UK's financial market infrastructure and potentially set precedents for future regulatory frameworks in the fintech sector.
Implications for Canadian and Global Fintech
The UK's digital securities sandbox offers valuable insights for Canada and the global fintech community. For Canadian fintech, this initiative serves as a model for how regulatory frameworks can evolve to support technological advancements while ensuring market stability. While there are a number of sandbox programs across Canada, in the past industry experts have lamented that regulators are simply pushing interested parties to existing registration categories without being a full service digital sandbox that allows companies to 'test novel innovations' wholeheartedly with the support of regulators. Perhaps the closest sandbox to the above definition is Alberta's Bill 13. The Canadian Securities Administrators host the Financial Innovation Hub where you can learn more and reach out directly. All of this highlights the importance of creating a conducive environment for testing and integrating new technologies like DLT.
Globally, the UK's approach underscores the need for international cooperation and the harmonization of legal and regulatory frameworks to facilitate the adoption of DLT and other fintech innovations. As financial markets become increasingly interconnected, establishing common standards and practices will be crucial for the seamless integration of new technologies across jurisdictions.
Next Steps and Future Innovations
The sandbox is set to operate for five years, until January 8, 2029, managed by the Financial Conduct Authority and the Bank of England.
See: UK launches pioneering digital securities sandbox
This period will allow firms and regulators to collaboratively explore the capabilities and implications of DLT and other digital asset technologies within a controlled environment. The flexibility of the sandbox framework, coupled with the potential for HM Treasury to create further sandboxes with different configurations, opens the door to continuous innovation and adaptation in the UK's legal framework to accommodate emerging technologies.
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, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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