Canadian Regulators Get Tough on the Crypto Exchanges
The Canadian Securities Administration and the investment industry regulator (IIROC) are giving unregistered crypto exchanges in the country three weeks to put everything in compliance with the law. Those who won’t do it in the given period of time, will face the legal action.
At the moment, it’s about 600 unregistered companies engaged with digital assets in Canada. The rules are meant not to oppress the industry but to compromise between the technical development and security and safety in a digital finance field.
Both regulators underline that they want to regulate the industry to support it, and their ultimate goal is to protect the interests of investors. They want to keep developing the regulation so that they can be tailored for a new financial field better.