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ARTICLE · 03 APRIL 2023

Canadian Securities Regulators Announce Increased Oversight On Crypto-Asset Trading Platforms And Clarify Stablecoin Guidance

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On February 22, 2023, the Canadian Securities Administrators (CSA) released Staff Notice 21-332 (SN 21-332), which introduces enhanced pre-registration requirements...

CanadaTechnology
Andrew Bozzato
Andrew Bozzato
Kwang Lim
Kwang Lim
Simon Grant
Simon Grant
Matthew Flynn
Matthew Flynn
Duncan Pardoe
Duncan Pardoe
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On February 22, 2023, the Canadian Securities Administrators (CSA) released Staff Notice 21-332 (SN 21-332), which introduces enhanced pre-registration requirements that apply to unregistered crypto-asset trading platforms (CTPs) operating in Canada. SN 21-332 also clarifies the CSA's approach to regulating crypto-assets that are intended to maintain a stable value over time through pegging their value to other assets, rights, values or combinations thereof, commonly referred to as "stablecoins" or, as the CSA refers to them, "Value-Referenced Crypto Assets" (VRCAs). Collectively, these regulatory updates build on prior CSA guidance and provide important updates for CTPs and other crypto market participants in Canada.

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