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ARTICLE · 22 AUGUST 2022

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Undertakings Now Expected For Crypto Asset Trading Platforms Operating In Canada While Seeking Registration

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Blake, Cassels & Graydon LLP

Blake, Cassels & Graydon LLP

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The Canadian Securities Administrators (CSA) umbrella group has announced that crypto asset trading platforms (CTPs) that operate in Canada but are not yet registered to do so must sign a preregistration...

CanadaTechnology
Chris Barker
Chris Barker
Christopher Jones
Christopher Jones
Alex Moore
Alex Moore
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The Canadian Securities Administrators (CSA) umbrella group has announced that crypto asset trading platforms (CTPs) that operate in Canada but are not yet registered to do so must sign a preregistration undertaking that addresses investor protection concerns. The CSA warned that its members may take enforcement action if a CTP does not file or abide by the terms of an undertaking.

The CSA's approach helps level the playing field between CTPs that are operating under the conditions of exemption orders issued by the Canadian securities regulators and those CTPs that are seeking to come into compliance but have not yet done so. The approach also provides more clarity regarding the policy of Canadian securities regulators towards unregistered CTPs that already operate in Canada and that are seeking appropriate registrations and exemptive relief.

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