Canada Unveils New Bank Capital Rules for Crypto Holdings
Canada’s financial watchdog recommends adjusting its capital and liquidity approach to crypto assets. The Office of the Superintendent of Financial Institutions (OSFI) claims that the proposed guidelines, which define four kinds of cryptocurrency assets and their capital classification, will simplify institutions’ approaches to perceived crypto risks. Up to September 20, OSFI allows public comment on […]
CSA Issues Crypto Fund Guidance In Canada
The Canadian Securities Administrators (CSA) has published new guidelines for public investment funds holding or seeking to invest in crypto assets, especially complying with securities law requirements. The guidelines cover custody, staking, valuation, and suitability of crypto assets for retail investors. Overview of the guidelines The CSA is the umbrella organization of Canada’s provincial and […]
Gemini Submits Application to Stay Open in Canada
According to a blog post on April 12, Gemini has made a regulatory filing through which it expects to go on doing business in Canada. In order to register as a restricted dealer, Gemini claimed to have submitted a pre-registration undertaking to Canada’s Ontario Securities Commission (OSC). This registration is necessary under recent Canadian securities […]
Paxos set to end Support for Canadian Customers Next Month
Paxos, a cryptocurrency company with headquarters in New York, recently declared that it would discontinue serving Canadian customers. This comes after some Canadian users claimed to have received an email from the company informing them that services will be ending at the beginning of next month. Paxos abruptly informed its Canadian subscribers on Wednesday of […]
Crypto Exchange OKX To Exit Canada By June 2023
Cryptocurrency exchange OKX will be ceasing its operations in Canada, and exiting the country by June 2023 due to “new regulations”. The Canadian users of the cryptocurrency exchange OKX were notified via email on March 20 that the company, claiming “new restrictions,” “would no longer provide services or enable users to establish new accounts in […]