Regulatory Alerts2021-03-29
Joint CSA/IIROC Staff Notice 21-329: Guidance for Crypto-Asset Trading Platforms Compliance with Regulatory Requirements
The Canadian Securities Administrators and IIROC issued this notice to provide guidance on how existing securities legislation applies to crypto-asset trading platforms, categorizing them as either Dealer or Marketplace Platforms. The document outlines specific registration requirements, including an interim two-year approach for Dealer Platforms trading crypto contracts to transition to investment dealer status, while Marketplace Platforms must operate under oversight similar to alternative trading systems. Regulators emphasize that while existing rules apply, flexibility and tailored terms may be granted to address key risks and foster innovation in the evolving fintech sector.
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