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ARTICLE · 13 MARCH 2023

CSA Enhances Regulation Of Unregistered Crypto Asset Trading Platforms

Miller Thomson
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On February 22, 2023, the Canadian Securities Administrators (the "CSA") published Staff Notice 21-332: Crypto Asset Trading Platforms: Pre-Registration Undertakings Changes to Enhance Canadian Investor Protection...

CanadaTechnology
Wayne Logan
Wayne Logan
Alissa Ricioppo
Alissa Ricioppo
John-David D'Souza
John-David D'Souza
Usama Rashid
Usama Rashid
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On February 22, 2023, the Canadian Securities Administrators (the "CSA") published Staff Notice 21-332: Crypto Asset Trading Platforms: Pre-Registration Undertakings Changes to Enhance Canadian Investor Protection (the "Staff Notice"), which marks another positive step towards clarity in regulation of the crypto asset industry in Canada. The new requirements introduced by the Staff Notice, discussed below, will position Canada at the forefront of crypto asset regulation by contributing to transitioning the crypto asset market towards regulatory parity with the securities market in relation to important matters, like investor protection.

The Staff Notice announces that new investor protection provisions have been incorporated into the standard pre-registration undertaking form (a "PRU") that is now required to be filed by all crypto asset trading platforms ("CTPs") operating in Canada while simultaneously seeking registration with relevant regulators. A PRU is a

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