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ARTICLE · 05 APRIL 2021

New Regulatory Guidance Requires Immediate Attention From Crypto Trading Platforms

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Newly-released regulatory guidelines give crypto asset trading platforms (CTPs) operating in Ontario just a few weeks—until April 19, 2021—to contact the Ontario Securities Commission (OSC) ...

CanadaTechnology
Andrew Bozzato
Andrew Bozzato
Simon Grant
Simon Grant
Christopher Doucet
Christopher Doucet
Daniel Baum
Daniel Baum
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Newly-released regulatory guidelines give crypto asset trading platforms (CTPs) operating in Ontario just a few weeks—until April 19, 2021—to contact the Ontario Securities Commission (OSC) to discuss how to ensure compliance with Ontario securities law. Failing to contact the OSC by this date could result in enforcement steps being taken.

What Does the OSC Want to Talk to CTPs About?

The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) published Joint Staff Notice 21-329 – Guidance for Crypto-Asset Trading Platforms: Compliance and Regulatory Requirements (the "Notice") on March 29, 2021, providing detailed guidance relating to the regulation of CTPs and related businesses. The guidance covers CTPs that facilitate or propose to facilitate the trading of crypto assets that are securities ("security tokens") or certain instruments or contracts involving crypto assets ("crypto contracts"), as previously

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