Post by
shneps on Mar 30, 2021 8:01am
IROC Registration of Crypto's
We'll see where this goes :
The Globe and Mail reports in its Tuesday edition that Canadian securities regulators have issued guidelines for cryptocurrency trading platforms to address the proliferation of unregistered platforms that are based in Canada or facilitate trades for Canadians. The Globe's Vanmala Subramaniam writes that the guidelines, published by the Canadian Securities Administrators (CSA), lay out in detail how existing securities legislation for dealers and issuers of traditional securities would apply to cryptocurrency trading platforms, depending on their exact function. Broadly speaking, all platforms that facilitate trades in digital tokens or contracts involving cryptoassets are now required to register as investment dealers and become members of the Investment Industry Regulatory Organization of Canada (IIROC); alternatively, they must apply for an interim registration until the activities of their business are clarified with regulators. There are hundreds of companies offering cryptotrading services in Canada, but only one -- WealthsimpleCrypto -- has voluntarily registered for regulation. Most of these businesses are only required to register with the Financial Transactions and Reports Analysis Centre of Canada (Fintrac).
Comment by
shneps on Mar 30, 2021 11:54am
I will bet you any money this is what Vincent has been waiting on, knowing that securities was working on it.