News & Analysis as of

Canada Cryptoassets Securities Regulation

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OSC Reviews Restricted Dealer Crypto Asset Trading Platforms

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The Ontario Securities Commission (“OSC”) completed a focused compliance review of the know-your-client (“KYC”), account appropriateness assessment and Client Limit (as defined below) practices of crypto asset trading...more

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CSA Propose Amendments to Rules for Public Crypto Asset Funds

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The Canadian Securities Administrators (“CSA”) recently published proposed amendments to National Instrument 81-102 Investment Funds (“NI 81-102”) and changes to its companion policy (the “Proposed Amendments”) relating to...more

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CSA Publish Interim Approach to Stablecoins

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This fall, the Canadian Securities Administrators (“CSA”) released CSA Staff Notice 21-333 Crypto Asset Trading Platforms: Terms and Conditions for Trading Value-referenced Crypto Assets with Clients (the “Staff Notice”) to...more

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OSC Proposes Fee Increase for Restricted Dealers, Including Crypto Asset Trading Platforms

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The Ontario Securities Commission (“OSC”) recently proposed amendments (the “Proposed Amendments”) to OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees (together, the “Fee Rules”) that would introduce two...more

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Canadian Regulators Continue Enforcement Efforts Aimed at Offshore Crypto Platforms

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Canadian regulators want to ensure that crypto-asset trading platforms (CTPs) know that they will not be able to evade Canadian and Ontario securities law sanctions by withdrawing from the Canadian market. As part of a...more

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CSA Release Guidance on Public Crypto Asset Funds

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This summer, the Canadian Securities Administrators (“CSA”) published CSA Staff Notice 81-336 Guidance on Crypto Asset Investment Funds that are Reporting Issuers (the “Notice”) concerning funds that seek to invest in crypto...more

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CSA Publish 2022 Annual Oversight Report on SROs and IPFs

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The Canadian Securities Administrators (CSA) recently released their 2022 Annual Activities Report (Report) summarizing their key oversight activities and assessments of self-regulatory organizations (SROs) and investor...more

Bennett Jones LLP

Canadian Securities Regulators Announce Increased Oversight on Crypto-Asset Trading Platforms and Clarify

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On February 22, 2023, the Canadian Securities Administrators (CSA) released Staff Notice 21-332 (SN 21-332), which introduces enhanced pre-registration requirements that apply to unregistered crypto-asset trading platforms...more

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CSA Expand Commitments that are Immediately Required From Unregistered Crypto Asset Trading Platforms Operating in Canada

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On February 22, 2023, the Canadian Securities Administrators (CSA) published CSA Staff Notice 21-332 Crypto Asset Trading Platforms: Pre-Registration Undertakings – Changes to Enhance Canadian Investor Protection (the Staff...more

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The OSC’s Statement Of 2023-24 Priorities: A Focus On Evolving Markets and Changing Investor Attitudes

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The Ontario Securities Commission (OSC) has released its 2023-24 draft Statement of Priorities, in which the OSC furthers previous goals, but with renewed focus on emerging trends and drivers of change – including financial...more

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