People Mentioned
Partner, Corporate, Calgary
The Canadian securities regulators’ plan to crackdown on unregistered cryptocurrency-trading platforms strikes a balance between flexibility and toughness, says Matt Burgoyne, partner and Chair of the Digital Assets and Blockchain practice, in an interview with The Logic.
Matt says the regulator’s thoroughness will make it more difficult for businesses to argue that they are not covered or do not know what steps they are supposed to take to comply. “There’s no more grey area. This provides a pretty clear roadmap on what to do now.”
The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canda (IIROC) published a joint notice providing more details on the steps they believe platforms need to take to comply with securities regulations. The notice explains the steps for submitting applications to provincial securities regulators and the IIROC, and outlines a process where some platforms may be allowed to operate as restricted dealers while they seek full registration.
With investor interest in cryptocurrencies growing thanks to their boom in price and increasing integration with the mainstream financial system, the business of enabling Canadians to exchange their dollars for bitcoin has been booming as well.
People Mentioned
Partner, Corporate, Calgary
