Numerous Bitcoin (BTC) and cryptocurrency A new statement on cryptocurrencies came from Canada, which came to the fore with its ETF approval.
Stating that the necessary lessons have been taken from the latest events in the crypto money industry, especially from the bankruptcy of FTX, Canadian Securities Administrators (CSA)is gearing up to tighten crypto surveillance in the country.
CSA said in a statement by expanding existing requirements for platforms operating in Canada. crypto- He said he would strengthen his approach to surveillance of trading platforms.
CSA said in its statement:
“If a platform currently subject to Canadian securities legislation does not submit a PRU to its main regulator or cease operations, the CSA will consider all applicable regulatory options to bring the platform into compliance with securities law, including enforcement action.”
Cryptocurrency The CSA, which envisages stricter measures for its platforms, included separating customer and proprietary business assets, ensuring that customer assets are held in an appropriate custodian, and prohibiting Canadian users from offering margin or leverage.
He said these strict measures also apply to platforms outside of Canada that offer services to Canadian citizens.
Finally, the CSA warned investors that cryptocurrencies and financial products related to cryptocurrencies are high-risk investments.
“Cryptocurrencies are risky investments.
These risks can result from, among other things, the crypto trading platform’s failure to comply with registration terms and conditions or commitments, interdependencies within the crypto industry, bankruptcy, hacks, price volatility, and uncertain value propositions for individual assets.
Canadian investors are advised to be cautious and consider seeking advice from a registered investment advisor before investing in crypto.
If investors choose to invest in cryptocurrencies, it is recommended to do so using a CSA registered platform.”
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