Have Your Say On How Crypto Trading Platforms Should Be Regulated Post-QuadrigaCX

Following widespread media coverage of the collapse of the QuadrigaCX digital currency exchange, Canadian regulators are asking for feedback on how to regulate platforms for the purchase, sale and transfer of crypto assets. In their consultation paper the Canadian Securities Administrators and the Investment Industry Regulatory Organization of Canada propose a regulatory framework and ask stakeholders how securities law should apply to crypto platforms. Given the increasing prevalence of digital assets including cryptocurrencies, regulation of crypto platforms may have increasing impact on the business of banking in Canada in the future. This regulatory development should be on the radar of financial institutions as well as players in the digital asset space.