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

Ponoka Youth Centre rolls back Before School Program to early start

Drop off to change to 6:30 a.m. starting Oct. 15

Our thriving town began as a whistle stop along Siding 14

By Mike Rainone for the News For those of us who were… Continue reading

Ponoka County passes Gull Lake IDP

Ponoka County has given its stamp of a approval to the Gull… Continue reading

Lacombe Chamber hosts election forum at LMC

LPC, CPC, PPC and NDP battle for Red Deer-Lacombe votes

No holiday for campaigning leaders on Thanksgiving weekend, but pace slows

There is a little over a week to go before election day, and advanced polls are now open

Advance voting set to end

One last chance to vote in if you are not going to be home on Oct. 21

‘Save the kids!’ Dorian survivor tells the harrowing story of his Canadian wife’s death

Family held a funeral and placed Alishia Liolli’s remains in a niche at a cemetery in Windsor, Ont.

Singh says NDP would form coalition with the Liberals to stop Tories

Singh was in a Liberal-held riding Sunday afternoon in Surrey where he was pressed about his post-election intentions

PHOTOS: Kipchoge becomes first runner to dip under 2 hours for marathon

Olympic champion and world record holder from Kenya clocks 1 hour, 59 minutes and 40 seconds

Mourners gather for slain teenager’s funeral in Hamilton, Ont.

Devan Bracci-Selvey’s obituary says he also had ‘a loving heart for animals’

1/3 of Canadian men won’t share their feelings for fear of being ‘unmanly’: report

Fifty-nine per cent of men said society expects them to be ‘emotionally strong and not show weakness’

Dog owners have reduced risk of dying from heart problems, says researcher

Researchers analyzed data on more than 3.8 million people taken from 10 studies

Winterhawks ice Rebels 5-0

Rebels take on Medicine Hat on the road Saturday night

Most Read