The Canadian Securities Administrator (CSA) says electronic money trading platforms are now expected to make certain commitments to address investor protection while their applications are being reviewed.
The umbrella organization of provincial securities regulators said that Crypto.com and Coinsquare Capital Markets Ltd. be the first to submit a pre-registration pledge.
The CSA says provincial regulators are in discussions with other crypto trading platforms about complying with the lawsuit and that regulators can take action if a crypto trading platform is unapproved. to file a pledge.
The commitments cover a wide range of issues, including not providing advice to clients, not offering margin trading, and placing some limits on how much clients can trade.
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In June, the Ontario Securities Commission dealt with two international cryptocurrency trading platforms that failed to comply with the province’s securities laws, securing a permanent market ban on one platform and reaching a settlement. compatible with the second platform.
Some of the authorized cryptocurrency trading platforms in Canada include Coinberry Ltd., Bitbuy Technologies Inc. and Wealthsimple Digital Assets Inc.
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