Regulatory Alerts2024-01-18
Draft Regulation to amend Regulation 81-102 respecting Investment Funds regarding Crypto Assets
The securities regulators have proposed amendments to Regulation 81-102 to formally incorporate crypto assets into the regulatory framework for investment funds. The changes define crypto assets within alternative mutual funds, impose strict prohibitions on their use by money market funds, and establish detailed custody requirements including offline key storage, insurance, and annual assurance reports. Additionally, the amendments permit alternative mutual funds to accept crypto assets as payment for securities under specific conditions and clarify that loaned securities and collateral cannot include crypto assets.
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