Canadian regulators have advised putting in place a coordinated oversight regime for all crypto trading platforms. Crypto platforms that are seeking registration will need to sign an undertaking to adhere to investor protections before they fall under formal regulatory surveillance.
This move follows the enormous fall of the global cryptocurrency platform FTX. This is among the new guidelines that have been set by the Canadian Securities Administrators (CSA), which is an umbrella body for securities regulators in the Canadian region.
According to the Canadian Securities Administrators, crypto oversight has been strengthened. The CSA said:
Following recent events in the crypto market, the CSA is strengthening its approach to oversight of crypto trading platforms by expanding existing requirements for platforms operating in Canada.
The CSA is a body that comprises securities regulators from 10 different provinces and three territories in Canada. From now on, the CSA aims at expanding the
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