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Canadian securities regulators introduce additional requirements for crypto asset trading platforms
March 29, 2023
On February 22, the Canadian Securities Administrators (CSA) published Staff Notice 21-332 – Crypto Asset Trading Platforms: Pre-Registration Undertakings — Changes to Enhance Canadian Investor Protection (SN 21-332). SN 21-332 supplements the CSA’s August 2022 update (the August update), which required unregistered crypto asset trading platforms (CTPs) to provide “pre-registration undertakings” (PRUs), pending review of their applications to become registered dealers. The August update effectively modified the registration framework previously set out in Staff Notice 21-329 – Guidance for Crypto-Asset Trading Platforms: Compliance with Regulatory Requirements (SN 21-329).