{"id":302284,"date":"2023-02-23T16:27:06","date_gmt":"2023-02-23T16:27:06","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=302284"},"modified":"2023-02-23T16:27:06","modified_gmt":"2023-02-23T16:27:06","slug":"canada-requires-crypto-exchanges-to-pre-register-within-30-days","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/canada-requires-crypto-exchanges-to-pre-register-within-30-days\/","title":{"rendered":"Canada requires crypto exchanges to pre-register within 30 days"},"content":{"rendered":"

The Canadian Securities Administration (CSA) released a notice <\/a>on Feb.22 requiring crypto exchanges that plan to operate nationwide to undergo a pre-registration process within 30 days.<\/p>\n

CSA chair Stan Magidson explained the reasoning behind this decision by stating:<\/p>\n

\u201cRecent insolvencies involving several crypto asset trading platforms highlight the tremendous risks associated with trading crypto assets, particularly when conducted on unregistered platforms based outside of Canada,\u201d<\/p><\/blockquote>\n

The pre-registration process includes segregating crypto assets held on behalf of Canadian clients and suspending offering margin, credit, or other forms of leverage trading to Canadian users.<\/p>\n

Exchanges will also have to stop offering stablecoins until written consent is secured from the CSA.<\/p>\n

The CSA also reminded Canadians that crypto trading came with an “elevated” level of risk, which may not be suitable for many investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Canadian Securities Administration (CSA) released a notice on Feb.22 requiring crypto exchanges that plan to operate nationwide to undergo a pre-registration process within 30 days. CSA chair Stan Magidson explained the reasoning behind this decision by stating: \u201cRecent insolvencies involving several crypto asset trading platforms highlight the tremendous risks associated with trading crypto assets, […]<\/p>\n","protected":false},"author":1262,"featured_media":302309,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nCanada requires crypto exchanges to pre-register within 30 days<\/title>\n<meta name=\"description\" content=\"The applicants will have to separate assets held for local clients, restrict margin and leverage trading, and ceasing the sale of stablecoins without permission.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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