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ARTICLE · 20 JANUARY 2020

CSA Issues Guidance That Securities Legislation Likely Applies To Custodial Cryptoasset Trading Platforms

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On January 16, 2020, the Canadian Securities Administrators (CSA) released CSA Staff Notice 21-327 Guidance on the Application of Securities Legislation to Entities ...

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In this Update

  • On January 16, 2020, the Canadian Securities Administrators (CSA) released CSA Staff Notice 21-327 Guidance on the Application of Securities Legislation to Entities Facilitating the Trading of Crypto Assets [PDF].
  • Custodial Platforms that operate in Canada, including foreign Platforms that offer services to Canadian users,  may need to make significant changes to their operations or take steps to register as dealers, seek exemptive relief, or otherwise comply with Canadian securities legislation.
  • The Staff Notice suggests CSA members intend to take enforcement action against Platforms that do not comply with securities legislation, as interpreted in the Staff Notice.

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