Dec 13, 2021
In 2021, the Canadian Securities Administrators (CSA) brought much anticipated clarity to the regulatory landscape for cryptoasset businesses offering services to Canadians and/or listed on Canadian securities exchanges. There have been a number of significant developments in regulation and enforcement by the Canadian Securities Administrators (CSA) that have materially changed the legal environment in which these businesses operate in Canada.
One key change consists of the adoption of a clear registration regime for cryptoassets trading platforms (CTPs) that offer custodial services to Canadian clients, pursuant to which six CTPs, five restricted dealers and one Investment Industry Regulatory Organization of Canada (IIROC) member, have now registered. Regulatory guidance has now been provided with respect to the advertising and marketing practices of custodial CTPs that are registered under securities laws. Additionally, regulatory guidance has been issued regarding public disclosure for reporting issuers that engage materially with cryptoassets.
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