Fun

Canadian regulators are looking to investor protection with stablecoin rules — CIRO

News Feed - 2024-08-14 06:08:00

Turner Wright2 hours agoCanadian regulators are looking to investor protection with stablecoin rules — CIROCIRO executive Suzanne Lasrado offered her opinion on the regulatory guidelines affecting Canadian stablecoin users at the Blockchain Futurist Conference.411 Total views1 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onAccording to a Canadian self-regulatory organization executive, securities regulators’ tightened requirements on stablecoins are “grounded in core investor protection.”


Speaking on a panel at the Blockchain Futurist Conference in Toronto on Aug. 13, Suzanne Lasrado, vice president of member services and innovation at the Canadian Investment Regulatory Organization (CIRO), suggested the requirements on digital assets released by the Canadian Securities Administrators (CSA) in 2023 may have been necessary for investor protection in Canadian markets. The rules, affecting many exchanges offering services to Canadians, led to the exodus of firms, including Binance, but prompted others like Gemini to adhere to the updated guidelines.


“If we look at the actual substance of what the CSA is imposing as conditions — offering stablecoins, or value-referenced crypto assets as they’re calling it — they are grounded in core investor protection and fair disclosure principles,” said Lasrado. “It is what is held investor protection from a securities standpoint it would stand in Canada. I’m sure that was what the CSA was thinking about when they put a lot of those conditions in place.”Blockchain Futurist Conference in Toronto on Aug. 13. Source: Sam Bourgi


According to the CSA rules published in February 2023, crypto trading platforms operating in Canada need the regulator’s “prior written consent” before users can buy or deposit stablecoins. In July 2023, the Canadian regulatory issued guidance for investment firms holding digital assets, prohibiting managers from lending assets that are not securities.


Related:Canada needs to overhaul crypto regulations — Coinbase exec


Under the CIRO and CSA, crypto trading platforms in Canada have been operating under an interim period since 2021 and are nearing the deadline to register fully as investment dealers. Many firms, including Coinbase Canada, are listed as CSA-compliant and “authorized to do business with Canadians.” 


Magazine:Your guide to crypto in Toronto: Crypto City# Canada# Security# Investments# Stablecoin# RegulationAdd reaction

News Feed

Smart Advertising Token SaTT Reveals ProBit as Next Exchange Listing
Smart Advertising Token SaTT Reveals ProBit as Next Exchange ListingSingapore, September 23, 2020– Against the predominantly dim and drab ICO backdrop, smart advertising token
Biggest Movers: SOL, Near Protocol up by Over 10% to Start the Week
Biggest Movers: SOL, Near Protocol up by Over 10% to Start the Week Solana moved closer to the $40.00 mark on Monday, as it rose for a sixth straight session to start the week. Bul
Bitcoin.com Exchange to List Aspire and Aspire Gas as Newest Digital Asset Creation Platform Comes to Market 
Bitcoin.com Exchange to List Aspire and Aspire Gas as Newest Digital Asset Creation Platform Comes to Market Aspire (ASP) is the first digital asset creation platform to resist bot
ETH Compatible BCH Sidechain Smartbch Successfully Launches Three Nodes
ETH Compatible BCH Sidechain Smartbch Successfully Launches Three Nodes The day before the fourth Bitcoin Cash anniversary, the Smart Bitcoin Cash team (Smartbch
Robert Baggs10 hours agoCointelegraph’s Rise ‘n’ Crypto: Unveiling the daily Web3 podcastWant to keep on top of all the crucial happenings in crypto? Cointelegraph has a new daily podcast that provides a rundown of
Martin Young3 hours agoEtherHiding: Hackers create novel way to hide malicious code in blockchainsThreat actors have worked out a way to hide malicious payloads in Binance smart contracts to lure victims into updating th
Scammers use memecoin ‘trending’ list to lure victims — Researcher
Christopher Roark10 hours agoScammers use memecoin ‘trending’ list to lure victims — ResearcherRoffet.eth found that some coins contained obscure, difficult-to-read code that allowed the developer to transfer user
SEC Chair Gensler Discusses How Securities Laws Apply to Crypto Tokens — Won’t Say if Ethereum Is a Security
SEC Chair Gensler Discusses How Securities Laws Apply to Crypto Tokens — Won"t Say if Ethereum Is a Security The chairman of the U.S. Securities and Exchange Commission (SEC), Ga
William Suberg19 hours agoBitcoin short-term holders ‘panic’ amid nearly 100% unrealized lossBitcoin speculators are dealing with “a degree of panic” as their BTC holdings sit in unrealized loss, says Glassnode.8
Libra Shows Central Banks’ Failure on Cross-Border Payments: Riksbank
Facebook’s Libra has been a wake-up call for central bankers. Now one such official – Gabriel Soderberg of Sweden’s Riksbank – says cross-border payments are where policymakers need to play ca
Was Warren Buffett right? 5 Things to know in Bitcoin this week
William Suberg59 minutes agoWas Warren Buffett right? 5 Things to know in Bitcoin this weekBitcoin sees a giant $30,000 crash in a week while Ethereum retreats 40% and Berkshire Hathaway"s Apple sale takes on new meaning
Bitcoin short liquidation risk surges as BTC price dips under $64K
William Suberg1 hour agoBitcoin short liquidation risk surges as BTC price dips under $64KLiquidation levels form an increasingly large cloud above BTC spot price as Bitcoin rests near $64,000.1056 Total views2 Total sha