BIGG Digital Assets Inc. (TSXV: $BIGG) (OTC: $BBKCF) moved another step through Canada's crypto-platform approval process after its Netcoins subsidiary had its CIRO membership application accepted for review.
The Vancouver-based digital asset company said Netcoins filed the application on May 27 and has now received formal acceptance from the Canadian Investment Regulatory Organization. The update does not make Netcoins a CIRO dealer member yet, but it clears a required checkpoint under the undertaking Netcoins provided to the British Columbia Securities Commission and the Ontario Securities Commission.
Netcoins' current operating status depends on staying aligned with that regulatory path. The platform operates as a Restricted Dealer under the Canadian Securities Administrators' crypto asset trading platform framework and is also registered as a Money Services Business with FINTRAC. Its exemptive relief decision allows it to continue serving Canadian users while it works toward full CIRO membership, as long as it meets the required milestones.
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Under the undertaking, Netcoins was required to submit a complete CIRO membership application by June 1. With CIRO's formal acceptance now in hand, Netcoins said none of the triggering events under the undertaking have occurred, allowing the platform to continue operating under its Restricted Dealer registration until CIRO makes a final decision on membership.
Netcoins CEO Fraser Matthews framed the acceptance as the result of years of compliance work and said the company remains committed to engaging through the review process. He said Netcoins exists to give Canadians "a trustworthy place to participate in digital asset markets."
The update arrives as Canadian crypto trading platforms continue to move through a stricter regulatory structure built around investor protection, registration and oversight. For BIGG, the milestone keeps Netcoins on the regulated path while its broader portfolio spans crypto trading, blockchain analytics through Blockchain Intelligence Group, and Web3 development through TerraZero.
BIGG Digital Assets Inc. (TSXV: BIGG) is trading at C$0.07 per share.