March 14, 2019
In light of Canadian regulators proposing new cryptocurrency exchange rules, Osler counsel Evan Thomas tells The Globe and Mail that the rules proposed by the paper may need further review. In her article, author Alexandra Posadzki explores how the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) are seeking input on “how current marketplace and dealer rules should be modified to address the nuances of cryptocurrency trading. The article also examines whether securities regulators have jurisdiction over cryptocurrencies. Evan, a counsel in Osler’s Litigation Group who specializes in Blockchain, explains.
“While some level of regulation, not necessarily by securities regulators, is likely appropriate, the cost, time and other practical difficulties of complying with many of the regulatory requirements contemplated by the paper would effectively shut out many innovative cryptoasset trading platforms from the Canadian market,” Evan tells The Globe and Mail.
For more information, read author Alexandra Posadzki’s article “Canadian regulators propose new rules to govern cryptocurrency exchanges, protect users,” in The Globe and Mail on March 14, 2019.