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ARTICLE · 02 MAY 2023

Ten Crypto Trading Platforms Give Pre-Registration Undertakings To The CSA

McCarthy Tétrault
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On April 12, 2023, the Canadian Securities Administrators (CSA) published pre-registration undertakings (PRUs) given by ten crypto asset trading platforms (CTPs) on March 24, 2023.

CanadaTechnology
TechLex Blog
TechLex Blog
Lori Stein
Lori Stein
Rene Sorell
Rene Sorell
Ana Badour
Ana Badour
Jacob A. Robinson
Jacob A. Robinson
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On April 12, 2023, the Canadian Securities Administrators (CSA) published pre-registration undertakings (PRUs) given by ten crypto asset trading platforms (CTPs) on March 24, 2023. These CTPs met the short deadline announced a month prior, described in our article CSA Sets 30 Day Deadline for Crypto Trading Platform Pre-Registration Undertakings and Issues Guidance on Stricter Oversight of Platforms.

In its April 12 press release, the CSA said it is reviewing other PRUs which were presumably either filed after the deadline or deviate from the language of those published. The CSA press release was silent on the future treatment of CTPs that failed to file by the deadline or filed PRUs that are not ultimately accepted. Platforms that did not file PRUs are expected to off-board Canadian clients and exit Canada. To date, only a few CTPs have announced their intention to exit Canada.

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