News Canada publishes new regulatory guidelines for crypto exchanges
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Loading... - Tomas Diego
- 20 Mar 2023
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When registering with the CSA, it says crypto exchanges must have enhanced protections for the custody and segregation of crypto assets for Canadian clients and a prohibition on offering margin, credit or other forms of leverage. Platforms are also prohibited from allowing the purchase or deposit of stablecoins without prior written consent from the CSA.
However, crypto custodians will “generally” be considered qualified if they are regulated by a financial regulator in Canada, the US, or a similar jurisdiction with a supervisory regime for conduct and financial regulation, the CSA says.
The CSA adds if a crypto trading platform is “unable or unwilling” to provide such “enhanced pre-registration undertakings”, which include terms and conditions consistent with requirements currently applicable to registered platforms, the CSA will “off-board” its Canadian users and impose restrictions to prevent Canadian users from accessing its products or services. Read More..
