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ARTICLE · 03 MAY 2021

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New Guidance On Regulation Of Crypto-Trading Platforms In Canada

Crawley MacKewn Brush LLP
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The Investment Industry Regulatory Organization of Canada recently issued new guidance, together with the Canadian Securities Administrators, regarding crypto-trading platforms.

CanadaTechnology
Michael L. Byers
Michael L. Byers
Joshua Shneer
Joshua Shneer
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The Investment Industry Regulatory Organization of Canada ("IIROC") recently issued new guidance, together with the Canadian Securities Administrators ("CSA"), regarding crypto-trading platforms ("CTPs"). Notice 21-329 "Guidance for Crypto-Asset Trading Platforms: Compliance with Regulatory Requirements"1 (the "Notice"), does not impose new rules but rather clarifies how industry should comply with the existing regime.2

The Notice contemplates different guidance for CTPs that operate similar to marketplaces ("Marketplaces") and those CTPs that trade security tokens or crypto contracts ("Dealers").3 Importantly as well, the Notice confirms that Canadian securities laws apply to CTPs serving Canadian clients, even if the CTP is operating from outside Canada.4

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