(Toronto) Crypto-asset trading platforms should now make certain commitments regarding investor protection during the review of their registration applications, say the Canadian Securities Administrators (CSA).
Posted at 5:35 p.m.
Crypto.com and Coinsquare Capital Markets have submitted their first pre-listing commitments, according to the umbrella organization of provincial securities regulators.
The CSA says provincial regulators are in discussions with other crypto-asset trading platforms to follow suit, and that regulators may take action if a crypto-asset trading platform is not ready to file an undertaking.
The commitments cover a range of things, including not offering advice to clients, not providing margin trading and setting certain limits on how much clients can trade.
In June, the Ontario Securities Commission took on two international crypto-asset trading platforms that failed to comply with provincial securities law, securing a permanent ban on market participation for one. and reaching a settlement with the second.
Several crypto-asset trading platforms are already licensed in Canada, including Coinberry, Bitbuy Technologies and Wealthsimple Digital Assets.