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ARTICLE · 10 SEPTEMBER 2020

Wealthsimple Digital Assets Inc. Becomes Canada's First Registered Crypto Asset Platform

Stikeman Elliott LLP
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The Canadian Securities Administrators has granted exemptive relief to Wealthsimple making it Canada's first crypto asset platform authorized through the CSA Regulatory Sandbox initiative.

CanadaTechnology
Alix D'Anglejan-Chatillon
Alix D'Anglejan-Chatillon
Ramandeep Grewal
Ramandeep Grewal
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The Canadian Securities Administrators (CSA) has granted exemptive relief to Wealthsimple making it Canada's first crypto asset platform authorized through the CSA Regulatory Sandbox initiative.

  • The CSA granted Wealthsimple Digital Assets Inc. time-limited relief from certain requirements to allow it to trade crypto assets and operate a platform that facilitates the buying, selling and holding of crypto assets.
  • Trading will be restricted to Bitcoin and Ether and is limited to a maximum of $30,000 per client over a 12-month period.
  • Gemini Trust Company, LLC will serve as a licensed third-party custodian while multiple crypto asset trading firms will act as liquidity providers for the purchase and sale of crypto assets.

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