FINTRACActive
Canada Crypto Asset Exchange Registration (MSB)
Coinsquare
Regulated in Canada
Crypto Asset Exchange Registration (MSB)
Basic Information
Country/RegionCanada
Exchange AbbreviationCoinsquare
Company NameCoinsquare Capital Markets Ltd.
Operating Period5-10 years
Websitehttps://coinsquare.com/
Exchange TypeCentralized Exchange
RiskNotice
5 risk alerts
- License No.
- M21853355
- Regulatory Jurisdiction
- Canada
- Licensed Entity
- Coinsquare Capital Markets Ltd.
- Effective Date
- 2021-03-16
- Sharing Status
- No
Exchange Overview
Exchange Overview
The safest and easiest way to buy and sell crypto.
Business Region
InfluenceC0
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News
Registration Required For Cryptocurrency Platforms In Canada Within 30 Days
The Canadian Securities Administrators (CSA) stated last Wednesday that cryptocurrency platforms must register in order to safeguard cryptocurrency buyers. The Canadian Securities Administrators (CSA) is the parent body for Canadas province and local securities authorities. Stan Magidson, Chairman of the CSA and CEO of the Alberta Securities Commission, stated that unregistered crypto asset trading platforms (CTPs) that continue to operate in Canada while pursuing registration are expected to provide their principal regulator with an enhanced pre-registration undertaking within 30 days of the publication of this notice. The CSA requires increased security and isolation of cryptocurrency assets owned by Canadian customers, as well as a ban on giving collateral, credit, or other forms of leverage to any Canadian customer. Consumers may not be permitted to buy or transfer stablecoins or private currencies unless the CSA has given previous written permission. If a CTP is unable or unwilling to provide an improved pre-registration commitment, the CSA anticipates that it will take suitable action to off-board current Canadian users and implement limitations to prohibit Canadian users from getting its goods or services. This new metric follows the recent decline in the cryptocurrency market and an increase in scam cases. Many nations are putting harsher restrictions on the
Tighter Controls Put in Place for Crypto Exchanges and Margin Trading in Canada
According to unidentified sources, the Canadian Securities Administrators (CSA) will introduce a coordinated supervision framework for cryptocurrency transactions later this month. All bitcoin trading platforms seeking registration will be required to sign undertakings that agree to investor safeguards under the new guidelines. Also, crypto applicants would need to agree to stricter restrictions, such as a prohibition on margin and leverage trading, making it more difficult for regular investors to trade cryptocurrencies using leveraged bets and prohibiting crypto providers from taking credit card payments. By proposing additional registration requirements, the CSA intends to tighten its regulation of cryptocurrency exchanges operating in the nation. This includes a suggestion that providers be required to store all Canadian customers assets with a suitable custodian and keep these assets separate from the platforms own company. Additionally, the plan mandates that cryptocurrency providers retain consumer assets separate from their own operating finances.Top crypto exchange in Canada - Coinsquare - Coinsquare is a Toronto-based cryptocurrency exchange that supports the trading of several popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. - Kraken - Kraken is a popular cryptocurrency exchange that is based in the United States but also serves Canadian customers. It supports a wide range of cryptocurrencies, including Bitcoin,
Canadian bank plans to launch dollar-backed digital currency 'in the coming months'
Turner Wright 9 hours ago Canadian bank plans to launch dollar-backed digital currency 'in the coming months' Stablecorp CEO Jean Desgagne said VersaBank's digital currency was intended to provide an alternative to concerns over volatility and security in crypto markets. 21514 Total views 62 Total shares Listen to article 0:00 News In an announcement on Wednesday, VersaBank said it plans to launch a digital currency called VCAD, which will reportedly be backed by Canadian dollars deposited with the bank. The Canadian bank claimed that VCAD would effectively be "the first digital currency to represent a fiat currency" issued and backed by a North American bank. VersaBank said it had partnered with Canada Stablecorp, a joint venture between investment fund manager 3iQ and blockchain firm Mavennet, to launch the "stablecoin." The bank plans to make VCAD available to the public “in the coming months” by issuing the digital currency to its “financial intermediary partners” in exchange for Canadian dollar deposits. Those partners will then reportedly be able to offer VCAD directly to individuals and other businesses. Stablecorp CEO Jean Desgagne said the digital currency was intended to address “two major shortcomings of the traditional cryptocurrency market,” namely volatility and security. The bank