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

Smash hit musical coming to life in Bashaw

Junior high students to present intense production of Lion King: The Musical

Options being researched in dealing with fire codes

Bashaw needs solution soon to lack of fire safety codes officer

Some new things to razzle and dazzle with

Bashaw’s annual summer event being freshened up a bit

Alberta premier says provincial carbon tax will die May 30

Kenney won Alberta’s election last month on a platform that included repealing the provincial carbon tax

UPDATE: B.C. pilot killed in Honduras plane crash

The crash happened in the Roatan Islands area, according to officials

‘Rope-a-dope’: Environmentalists say Alberta war room threat won’t distract them

Those against Alberta Premier Jason Kenney aren’t worried about promise to fight critics of energy industry

Almost $13 million to be paid to Grande Prairie hospital subcontractors, others

No reasons for the Court of Queen’s Bench order were released

Canada’s parole officers say correctional system has reached breaking point

About half of Canada’s federal parole officers work inside penitentiaries and correctional institutions

Speed, alcohol considered factors in deadly Calgary crash: police

Two female passengers in the Corolla, aged 31 and 65, died at the scene

Montreal researchers create audible hockey puck for visually impaired players

Three years ago, Gilles Ouellet came up with the idea for a puck that makes a continuous sound

‘What’s your number?’: Advocates urge Canadians to check their blood pressure

May 17 is World Hypertension Day, marked to spread awareness on the risks of high blood pressure

National Impaired Driving Enforcement Day is May 18

Alberta RCMP participates in Canada Road Safety Week during Victoria Day long weekend

Alberta issues fire ban in northern part of province due to wildfire threat

The government says the decision was made due to the growing threat of wildfires

Most Read