Canadian securities regulators are clarifying existing regulations for crypto firms.
In a new notice published March 29, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) explored how existing regulation can be „tailored” to crypto innovation, including interim approaches for crypto marketplaces and dealers.
The lead-up
The notice comes as a collaboration between the CSA, the council of securities regulators across provinces, and the IIROC, a self-regulatory organization overseeing investment dealers. The two first published a consultation paper proposing a framework for crypto platforms in 2019. It received 52 comment letters at the time.
Canada recently approved a wave of bitcoin exchange-traded funds (ETFs), and though bitcoin is not considered a security within the framework, the CSA acknowledged that growing interest in bitcoin has driven the adoption of a variety of digital assets.
The CSA did not comment in ti
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