First Block Capital Registers as BC’s First Cryptocurrency Investment Fund Manager

In an impressive demonstration of forward thinking, today the British Columbia Securities Commission granted registration to First Block Capital as an investment fund manager and exempt market dealer dedicated solely to cryptocurrency investments. The announcement indicates the regulator’s willingness to work with entrepreneurs in a new and often undefined technology space.

While this is a positive sign, it’s important to note that First Block Capital does not raise funds from investors via cryptocurrencies. Rather, it accepts (regular) money from investors and then deploys it into virtual coins. This news does not necessarily help those who wish to raise capital by accepting cryptocurrencies through means such Initial Coin Offerings (ICOs) and Initial Token Offerings (ITOs), who face serious challenges ahead.

First Block Capital is the earliest example that a cryptocurrency investment business can operate legally. Entrepreneurs should follow their lead.

About The Author

Alexis Assadi

Alexis Assadi is an investor, entrepreneur and writer, who advocates for making high-performing income investments and the lifelong pursuit of financial intelligence. He is a shareholder and director in three companies that provide funding to small businesses, entrepreneurs and real estate projects. His most recent venture is a firm called Pacific Income LP.

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