BIGG Digital Assets, a leading innovator in the digital assets space and owner of Netcoins Inc. (“Netcoins”), Blockchain Intelligence Group, and TerraZero, is pleased to announce that Netcoins has obtained an extension to the exemptive relief decision granted by the British Columbia Securities Commission (“BCSC”) and other members of the Canadian Securities Administrators, that permits Netcoins to operate a crypto trading platform in Canada for a further two-year term, subject to certain conditions set out in a decision document dated September 29, 2025 (the “decision document”).
Fraser Matthews, President and CEO of Netcoins, commented:
“We are excited to have obtained an extension to our exemptive relief to continue to operate as a restricted dealer and continue to build Netcoins as one of Canada’s leading regulated crypto trading platforms, which reinforces our commitment to compliance and transparency. With this foundation, we are advancing towards CIRO membership. We are proud to be one of the few Canadian-owned crypto trading platforms registered in Canada and look forward to serving Canadians for years to come.”
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As with all crypto trading platforms in Canada, Netcoins relies on the issuance of this type of exemptive relief to allow it to operate in compliance with Canadian securities laws, and the relief sets out terms and conditions that Netcoins must comply with to carry on its business. In connection with the extension of the exemptive relief, Netcoins delivered an undertaking (the “undertaking”) to the BCSC and the Ontario Securities Commission (“OSC”) in which Netcoins has committed to meet specified milestones on or before certain dates specified in the decision document. Under the terms of the decision document and the undertaking, Netcoins is required to comply with certain conditions, which include, among other things, ensuring that Netcoins has a positive risk-adjusted capital calculation for the financial year end of December 31, 2025, in accordance with the CIRO requirements, by January 31, 2026 and Netcoins submits a complete CIRO membership application with CIRO by June 1, 2026 and CIRO formally accepts such application (the “milestones”). In the event that Netcoins fails to achieve the milestones, Netcoins will be required to implement restrictions on its business within specified timelines, unless otherwise agreed to in writing by the OSC and the BCSC. Under the terms of the undertaking, these restrictions would include a requirement to wind down its operations in Ontario.
Details about the terms and conditions on Netcoins’ registration as a restricted dealer, including details about the timelines for the Milestones, are set out in the Decision Document (found here).
Netcoins will continue to work actively and diligently to submit the CIRO membership application by June 1, 2026, and complete the process of becoming a CIRO dealer member. BIGG is confident that Netcoins’ management will be able to meet the required milestones and is committed to providing timely updates to stakeholders.
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