Tectono Business Review: CANADA’S REGULATORY BODY ISSUES GUIDANCE ON CRYPTO ASSETS INVESTMENT

Friday 7 July 2023

CANADA’S REGULATORY BODY ISSUES GUIDANCE ON CRYPTO ASSETS INVESTMENT

The Canadian Securities Administrators (CSA), an umbrella regulatory organization that serves Canadian markets, securities issuers, and investors, has reiterated its confidence in the regulated futures market for crypto, which according to it promotes greater price discovery.

The Canadian market hosts a number of #crypto #exchange-traded funds (#ETFs), besides the United States.

Yesterday, the #CSA issued guidance to help fund managers comply with statutory requirements for investment funds holding crypto assets.

A 15-page document defends the very existence of crypto ETFs in Canada, emphasizing that ETFs possess the necessary tools to protect the price undulation of particular crypto #assets.

The CSA lays restrictions on the proportion of illiquid assets and also reminds investment managers that they’re prohibited from lending assets that are not securities.

The document also designs the minimum expectations for the crypto assets custody which include primary storage in cold #wallets, segregation of assets, visible on the #blockchain, #insurance for corporate crime, and providing the reports to funds’ auditors.

It makes it clear that funds managers must comply with the illiquidity restrictions during staking.

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Friday 7 July 2023

CANADA’S REGULATORY BODY ISSUES GUIDANCE ON CRYPTO ASSETS INVESTMENT

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