The Canadian Securities Administrators says crypto-trading platforms don’t necessarily fit the existing regulatory structure because some of their functions are similar to regulated exchanges but other functions are similar to dealers, custodians and clearing agencies.

Canadian regulators eye framework to cover crypto trading platforms

Regulators invite interested parties to submit written comments

The regulatory bodies that oversee Canada’s stock markets are seeking feedback on appropriate requirements for platforms that trade cryptocurrencies such as Bitcoin, Ethereum and Ripple.

The provincial regulators represented by the Canadian Securities Administrators and the Investment Industry Regulatory Organization of Canada published their proposed framework on Thursday.

READ MORE: Search into missing cryptocurrency from B.C.-based exchange turns up empty ‘cold wallets:’ Report

The CSA says crypto-trading platforms don’t necessarily fit the existing regulatory structure because some of their functions are similar to regulated exchanges but other functions are similar to dealers, custodians and clearing agencies.

The consultation paper invites interested parties to submit written comments on a variety of questions by May 15. The responses will help the regulators as they craft a new framework for crypto-trading platforms.

Among other things, the paper asks in its section on surveillance of trading activities if it’s appropriate for the platforms to set rules and monitor trading activities on their own marketplace.

The paper also asks what standards should be in place to limit the risk of crypto assets being lost or stolen and what type of insurance coverage the platforms should be required to obtain.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

WildsafeBC comes to the Okanagan to reduce wildlife conflict

Bear activity on the Westside has been an issue in the past few weeks

Update: Washed out South Okanagan road temporarily closed for assessment

A portion of Eastside Road, south of Penticton, appears to be crumbling into Skaha Lake

93rd Okanagan music festival wraps up with gala celebration

The 2019 Penticton Kiwanis Music Festival finish with gala celebration and awards evening

Column: A solar pioneer in the Okanagan rides among us

This Summerland octogenarian has been producing his own electrical energy for more than 20 years

Okanagan-Shuswap weather: cloudy

Environment Canada is calling for a similar day tomorrow.

Killer of Calgary mother, daughter gets no parole for 50 years

A jury found Edward Downey guilty last year in the deaths of Sara Baillie, 34, and five-year-old Taliyah Marsman

Raptors beat Bucks 120-102 to even series at 2-2

Lowry pours in 25 as Toronto moves within two games of NBA Finals

Body of missing snowmobiler recovered from Great Slave Lake

Police confirm the body is that of one of three missing snowmobilers

North Okanagan tests out two $10/day childcare sites

Katrine Conroy came to Vernon to tour universal child care prototype sites, including the one at Maven Lane

Penticton sets cap of 14 cannabis stores, removes buffer zone

The city previously relied on a buffer zone and scoring matrix to limit number of stores

Okanagan medical cannabis shop shutting doors

Herb’s Health Centre has been operating without a city business licence for nearly a year

Toddler seriously injured after falling from Okanagan balcony

RCMP are investigating after a two-year-old boy fell from the balcony of an apartment in Kelowna

Witness says Kelowna man on trial for murder admitted to the killing

Steven Pirko is charged in the killing of Christopher Ausman in 2014

Bucking bulls return to Okanagan raceway Sunday

Bull Riders Canada returns to the South Okanagan with some of the top riders in Canada

Most Read