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ARTICLE · 17 AUGUST 2022

New Requirement For Crypto Trading Platforms To Provide Pre-Registration Undertakings To Canadian Securities Administrators – Initial Two Undertakings Published By OSC

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On August 15, 2022, the Canadian Securities Administrators (CSA) announced a new requirement for crypto asset trading platforms (CTPs) that are working toward registration...

CanadaTechnology
TechLex Blog
TechLex Blog
Rene Sorell
Rene Sorell
Lori Stein
Lori Stein
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On August 15, 2022, the Canadian Securities Administrators (CSA) announced a new requirement for crypto asset trading platforms (CTPs) that are working toward registration under securities laws to provide a publicly available undertaking in order to continue to provide services in Canada while pursuing registration.

These Undertakings are intended to provide clarity to Canadian users regarding the regulatory status of various CTPs, and address level playing field concerns raised by registered CTPs regarding their unregulated competitors.

The OSC also published the first two undertakings given by Coinsquare Capital Markets Ltd. ("Coinsquare") and Foris Dax Inc. ("Crypto.com") for which it acts as principal regulator. The undertakings impose registration deadlines of 180 days for Coinsquare and 12 months for Crypto.com.

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