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ARTICLE · 02 APRIL 2021

Canadian Securities Administrators And IIROC Release Guidance For Crypto Asset Trading Platforms

McCarthy Tétrault
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In a detailed joint notice (the "Notice") the Canadian Securities Administrators ("CSA") and the Investment Industry Regulatory Organization of Canada ("IIROC") yesterday published a summary...

CanadaTechnology
Canadian Securities Regulatory Monitor
Canadian Securities Regulatory Monitor
Ana Badour
Ana Badour
Cristian Blidariu
Cristian Blidariu
Michael Eldridge
Michael Eldridge
Sean Sadler
Sean Sadler
Rene Sorell
Rene Sorell
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In a detailed joint notice (the "Notice") the Canadian Securities Administrators ("CSA") and the Investment Industry Regulatory Organization of Canada ("IIROC") yesterday published a summary of their expectations of unregistered Crypto Asset Trading Platforms ("CTPs") that allow trading of "crypto assets that are securities" ("tokens") or "contracts involving crypto assets" ("crypto asset contracts")1.

The Notice codifies and elaborates on positions that securities regulators in Canada have held for some years2.

In a separate notice (the "OSC Notice") published concurrently with the CSA Notice, the Ontario Securities Commission ("OSC") has announced that CTPs with Ontario clients or that otherwise operate in the province must contact OSC staff by April 19, 2021 to discuss how to bring their operations as a dealer or marketplace into compliance. Failure to do so by this date, the OSC warns, will result in a referral to the OSC's enforcement branch.

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