Canada’s New Crypto Rules Push Trading Platforms to Comply or Leave
- Some firms, including Paxos, have decided to exit market
- Regulations include segregation of clients’ crypto assets
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Canada’s recent moves to impose stricter rules on crypto companies show that US regulators have allies in cracking down on the asset class after last year’s turmoil.
Canadian securities regulators in February gave a 30-day deadline for unregistered crypto trading platforms operating in the country to commit to a so-called pre-registration undertaking. Firms are required to follow tougher regulations on segregating customer assets and prohibited from offering margin or leverage to users in Canada.