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As part of the new beefed-up requirements, the CSA has instituted a ban on exchanges offering margin or leverage trading to any Canadian client and made it a requirement that platforms hold all Canadian clients’ assets “with an appropriate custodian and segregate these assets from the platform’s proprietary business.”
For the purposes of these securities regulations, “Platforms located outside of Canada that are accessible by Canadians are regarded as operating in Canada,” the CSA said. “Crypto trading platforms that are registered or that have entered into a pre-registration undertaking are reminded that they are prohibited from permitting Canadian clients to trade, or obtain exposure to, any crypto asset that is itself a security and/or a derivative,” the statement said. “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.
Stablecoins are not securities, they are insecurities. They are not stable and neither are they coins!
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Source: CryptoAmb - 🏆 22. / 68 Read more »