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ARTICLE · 25 MARCH 2021

CSA Urging Crypto Asset Reporting Issuers To Improve Disclosure Quality

On March 11, 2021, the Canadian Securities Administrators ("CSA") published Staff Notice 51-363 – Observations on Disclosure by Crypto Assets Reporting ("Notice 51-363"), ...

CanadaTechnology

On March 11, 2021, the Canadian Securities Administrators ("CSA") published Staff Notice 51-363 - Observations on Disclosure by Crypto Assets Reporting ("Notice 51-363"), the first update from CSA regarding entities dealing in crypto assets in more than a year1. Based on the disclosure of reporting issuers acting in the crypto asset space, Notice 51-363 provides staff guidance on expectations for disclosure in this industry.

Crypto asset reporting issuers have the same obligations as other public companies in disclosing material information and changes that affecting their businesses, as well as the financial impacts of such risks. Notice 51-363 reiterates the importance of fulfilling these obligations, and at the same time, recognizes the emerging nature of the crypto asset industry and novel issues reporting issuers may face.

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