We recently became aware that NuGen Cryptocurrency promoted an initial coin offering (ICO) of NuGen Coin, in which British Columbia (BC) residents can participate.
An ICO may be considered a distribution of a security under the Securities Act, RSBC 1996, c. 418 (the Act), and, therefore, may be subject to the prospectus filing requirements of the Act. NuGen Cryptocurrency has not filed a prospectus in BC.
We urge BC residents to exercise caution when considering an investment in an ICO promoted by entities that may not have complied with the prospectus requirements under the Act.
For information on how to become better informed about cryptocurrencies and ICOs, please visit https://www.investright.org/about-investing/what-are-initial-coin-offerings-or-icos/.