Crypto Asset Guidelines From Canada Regulators
The Canada Securities Administrators (CSA) issued new rules for investment funds that own or want to own crypto assets, focusing on compliance with securities legislation requirements. Unlike the US SEC, Canada recognises the benefits of crypto and Bitcoin and is gradually relaxing restrictions on investment in crypto assets. In the coming months, major crypto events such as the 2023 Blockchain Futurist Conference and ETHToronto will take place.
The development of a non-redeemable Canadian public crypto asset fund in April 2020 resulted in the creation of a non-redeemable investment fund that invests its assets directly in Bitcoin. As of April 30, 2023, there are 22 Public Crypto Asset Funds in Canada, with a total net asset value of CAD $2.86 billion.
The CSA issued advice on existing securities regulatory obligations for cryptocurrency asset investment funds. The CSA also discussed its position and expectations regarding cryptocurrency staking, crypto custodians, and investment in crypto assets other than BTC and ETH.
(With inputs from Shikha Singh)
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