Canada’s Securities Administrators (CSA) on Dec. 12 parmaklıklı crypto exchanges operating in the country from offering margin or leverage trading services to any Canadian client.
The regülatör added that these crypto exchanges must hold their Canadian clients’ assets with an appropriate custodian and segregate them from the platform’s proprietary business.
CSA noted that stablecoins might constitute securities or derivatives. The regulator reminded the crypto exchanges that they are prohibited from allowing Canadians to trade or have exposure to any crypto asset that is a security or a derivative. CSA wrote:
“Crypto trading platforms are expected to have established policies and procedures to determine whether each crypto asset they provide exposure to is a security and/or derivative.”
CSA said its latest move is part of its effort to strengthen its oversight of crypto trading firms by expanding existing requirements for these platforms.
Meanwhile, despite these measures, the regulator warned that crypto investments or financial products related to crypto assets are high-risk investments. The regulator asked Canadian investors to exercise caution before investing in crypto and urged them only to use platforms registered with the body.
Source: https://cryptoslate.com/canada-bars-exchanges-from-margin-leverage-trading-says-stablecoins-might-be-securities/