The website with which the process may of been started on is a good start now all we need is the relevant info(registration details) to go check on it's progress ourselves.
What are these final steps too as I am of course interested in this like many here. I am sure mongonzo will tell us all the Registry Number and what these final steps will entail when he reads my posts.
I will have many more questions later on regarding certain aspects of the white coin foundation and it's members but I believe one step at a time so I can research properly is the way forward.
Hi Kestrel,
Our official status right now is "Reserved with conditions", which means that the government has granted us the right to operate under the name "The WhiteCoin Foundation" for 90 days until our registration goes through the final submission and approval process. As has been previously shown to you, this can be verified at the Access Nova Scotia website.
So what does "Reserved with Conditions" mean? Essentially: It means we're anticipated to meet all of the requirements of registration in the eyes of the registry of joint stocks employees who looked over our file, and that we've been granted a 90 day period to begin operations and submit any paperwork for final approval.
When I began the process of registration over two months ago, we were initially met with a very large amount of questions by the Nova Scotian Government representatives I spoke with. When I asked for our name to be reserved, I was originally advised against doing so until I'd done the following:
- Contacted a lawyer for legal advice (done)
- Researched the various acts we could register under (Association, Society, Co-op, company, etc) (done)
- Ensure we have access to $50K CDN in either assets or funding should we wish to operate as a Foundation under the Societies Act (done)
- Seek comment from the Minister of Finances Office of Nova Scotia (Done, they had no objection but many questions)
- Seek comment from the Minister of Service Nova Scotia and Joint Stocks Office (Done, they were of great help in guiding us through this process)
What all this means is that no matter what, even if we decide to register under a different act, the government felt we had our ducks enough in a row to reserve our name and grant us the ability to operate under it free of charge. In a worst case scenario, we'll have to pay a one time $50-$75 CDN fee to finalize the process should it be determined we'd be better off operating as a Ltd. or at the federal level.
Bill C-31 has presented some interesting developments in this regard, which is why we will be using this 90 day period to operate to its full extent. We need to be flexible during the period that the government is looking at how or if it intends to regulate the operation of cryptocurrencies.
If you have any questions, please do not hesitate to ask.
Best regards,
Chris