Canadian securities regulators publish additional guidance for entities facilitating the trading of crypto assets

MONTREAL, – The Canadian Securities Administrators (CSA) at present printed Staff Notice 21-327 Guidance on the Application of Securities Legislation to Entities Facilitating the Trading of Crypto Assets, to assist these entities to find out conditions the place securities laws could or could not apply.

“The evolving panorama of the trade prompts us to make clear our regulatory framework in order to higher assist fintech companies looking for to supply modern merchandise, providers and functions in Canada,” mentioned Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “As we proceed to think about the feedback and responses to the session we launched final yr, the workers discover printed at present will assist platform operators to find out whether or not their actions are topic to securities laws.”

The discover describes conditions the place securities laws will and won’t apply. For instance, securities laws could apply to platforms that facilitate the shopping for and promoting of crypto assets which are commodities, as a result of the person’s contractual proper to the crypto asset could itself represent a spinoff, a safety or each.

The related dedication will rely on the details and circumstances, together with the obligations and intention to offer speedy supply of the crypto asset. The discover supplies guidance on what constitutes speedy supply, along with an in depth instance of a state of affairs the place securities laws doesn’t apply.

The CSA and the Investment Industry Regulatory Organization of Canada (IIROC) proceed to evaluate the feedback and responses to Joint CSA/IIROC Consultation Paper 21-402 Proposed Framework for Crypto-Asset Trading Platforms. We anticipate publishing a abstract of feedback and responses together with guidance on the regulatory framework relevant to crypto-asset trading platforms which are topic to securities laws later this yr.

CSA Staff Notice 21-327 Guidance on the Application of Securities Legislation to Entities Facilitating the Trading of Crypto Assets is out there on jurisdictions’ websites.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co- ordinates and harmonizes regulation for the Canadian capital markets.

For extra info:

Kristen Rose
Ontario Securities Commission
416-593-2336  
Hilary McMeekin
Alberta Securities Commission
403-592-8186
Brian Kladko
British Columbia Securities Commission
604-899-6713  
Sylvain Théberge
Autorité des marchés financiers
514-940-2176
Jason (Jay) Booth
Manitoba Securities Commission
204-945-1660
Sara Wilson
Financial and Consumer Services
Commission, New Brunswick
506-643-7045  
Shannon McMillan
Financial and Consumer Affairs
Authority of Saskatchewan
306-798-4160
Steve Dowling
Government of
Prince Edward Island,
Superintendent of Securities
902-368-4550  
David Harrison
Nova Scotia Securities Commission
902-424-8586
Jeff Mason Nunavut Securities Office 867-975-6591  
Renée Dyer
Office of the Superintendent
of Securities
Newfoundland and Labrador
709-729-4909
Tom Hall
Office of the Superintendent
of Securities
Northwest Territories
867-767-9305  
Rhonda Horte
Office of the Yukon Superintendent
of Securities
867-667-5466

SOURCE Autorité des marchés financiers

http://www.lautorite.qc.ca/

 

supply: https://blockchain-press-releases.com/canadian-securities-regulators-publish-additional-guidance-for-entities-facilitating-the-trading-of-crypto-assets/

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