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This month or so, Umbrella Market Regulatory Organization of Canada, the Canadian Securities Regulatory Authorities (CSA), Increase requirements for the exchange of cryptocurrencies operating within the country, based on two individuals who were informed of the plans.
Ftx's collapse, These include defects in the crypto industry, accelerated the resolution of the Security Council, announced in the middle of last year that it was requiring certain "undertakings" to comply with non-registered crypto platforms operating in Canada while they continue to register.
The CSA declined to discuss updates to the pre-registration undertaking (PRU) regime, but said it would “publish additional details in the near future.”
The CSA declined to discuss updates to the Pre-Registration Undertaking (PIU) regime. The CSO refused to discuss updates to the pre-registration commitment regime, But he said he would 'release additional details in the near future.' the United States Securities and Exchange Commission has already started to accelerate its crackdown on crypto firms, deal with charges with kraken exchange and claiming that a stablecoin issued by paxos is a guarantee.
Other G-7 countries, such as the United Kingdom and Canada, are redoubling their efforts to monitor the industry following last year's catastrophes. Other G-7 nations such as the United Kingdom and Canada are also ramping up their efforts to monitor the industry following last year's disasters.
Some Canadian industry stakeholders have expressed concern about the potential for onerous applications to obtain individual approvals from key regulatory authorities in various jurisdictions, for example.
In the moment, Some of canada’s marketplace rules governing alternative trading systems are not passport-able to other jurisdictions.“this [update to pru] was primarily driven by the ontario securities commission and will crush the canadian crypto industry overnight as it completely changes the csa’s own stated rules and structures and will ensure it’s simply too expensive to do business in canada,” said one person who asked to remain unnamed due to their ongoing business with regulators. BINANCE Canada, for example, has had run-ins with the OSC in the past.
Strengthened surveillance of crypto-exchange platforms by the CSA will have an impact on some of the country's major global exchanges.
Binance Canada, for instance, has had some experience with the OSC.
Binance canada, for example, has had dealings with CSO in the past. -The controlled crypto-exchange currency base is also operated in Canada under the authority of financial markets (AMF), the organization responsible for financial regulation in the canadian province of quebec.a person familiar with the situation said COINBASE has leeway to move over from the amf to ontario’s osc if it made sense for the exchange. Someone familiar with the situation said that Coinbase has some flexibility to move from the AMF to the Ontario OSC if that makes sense for the trade.
