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ARTICLE · 23 MARCH 2023

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Incoming Deadline Looms For Crypto Asset Trading Platforms To Comply With New Requirements

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The Canadian Securities Administrators ("CSA") has reacted to recent high-profile insolvencies occurring in the cryptocurrency market...

CanadaTechnology
Adam Braun
Adam Braun
Jasraj Shergill
Jasraj Shergill
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The Canadian Securities Administrators ("CSA") has reacted to recent high-profile insolvencies occurring in the cryptocurrency market by announcing its intention to increase and strengthen its oversight of cryptocurrency asset trading platforms ("CTPs") that operate in Canada or that are accessible to Canadians.

On February 22, 2023, the CSA published Staff Notice 21-332 Crypto Asset Trading Platforms: Pre-Registration Undertakings – Changes to Enhance Canadian Investor Protection (the "Notice"). In order to continue operating in Canada, CTPs that are applying for registration will need to file an enhanced pre-registration undertaking ("PRU") with the CSA by March 24, 2023. The Notice also provides additional guidance to CTPs that are already registered, in particular around the trading of stablecoins.

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