Canadian authorities roll out framework for regulation of crypto-asset trading platforms

By John Filar Atwood The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) are seeking public input on the appropriate way to regulate Canadian platforms that trade crypto-assets. The regulators offered a proposed regulatory framework, but are seeking feedback on core issues such as how to address custody and verification of assets, price determination, market surveillance, and clearing and settlement. The CSA and IIROC noted in a news release that crypto-asset trading platforms may be subject to securities and/or derivatives regulation depending on how they operate and the assets they make available for trading. They are concerned that the exiting regulatory system may not fully address the novel features and potential risks of crypto-assets. Where securities legislation applies to the platforms, the CSA and IIROC said that they are considering a tailored regulatory framework to address the novel features and risks.…

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