(Toronto) Crypto-asset trading platforms should now make certain investor protection commitments while reviewing their registration applications, the Canadian Securities Administrators (CSA) say.
Posted on 15.8
Crypto.com and Coinsquare Capital Markets have filed their first pre-listing commitments, according to the umbrella organization of provincial securities regulators.
The CSA says provincial regulators are in talks with other crypto-asset trading platforms to follow suit, and regulators can take action if a crypto-asset trading platform is unwilling to file a commitment.
The commitments cover a number of things, including not advising clients, not trading on margin, and setting certain limits on how much clients can trade.
In June, the Ontario Securities Commission took over two international crypto-asset trading platforms that violated the province’s securities laws, permanently banned one from trading and reached a settlement with the second.
Several crypto asset trading platforms are already licensed in Canada, including Coinberry, Bitbuy Technologies and Wealthsimple Digital Assets.
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