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HomeLaw & PoliticsCanadian authority all set to offer pre-registration undertaking to crypto exchange Crypto.com

Canadian authority all set to offer pre-registration undertaking to crypto exchange Crypto.com

The Canadian Securities Administrators (CSA) on August 15th provided pre-registration undertakings to all the cryptocurrency trading platforms, agreeing to specific legislation before operating in Canada.

On August 15, the Ontario Securities Commission published the first pre-registration undertaking form for the crypto trading platforms. Moreover, trading platforms like Crypto.com and Coinsquare Capital Market Ltd. filed the pre-registration undertaking form that the CSA publishes.

Crypto trading exchanges will have to agree on conditions like cybersecurity, money laundering, and KYC (know your client) before operating in the region of Ontario.

The Investment Industry Regulatory Organisation of Canada and the Canadian Securities Administrators jointly issued a statement on ICOs (initial coin offerings) the previous year, informing users that they are subject to securities laws.

After signing the pre-registration undertaking form Crypto.com turned into the first exchange to focus on offering online products and services that entirely follow Canadian securities regulations. The Pre-Registration Undertaking is an authoritative document that all Canadian administrations acknowledge.

Crypto.com is focusing on sports sectors as the following area to be used by blockchain technology and digital currencies, with a plan to act as the bridge between cryptocurrency and fiat money. Moreover, IFA World Cup Qatar 2022 was officially sponsored by crypto.com. It has likewise tapped LeBron James for a Super Bowl business this year.

After signing the pre-registration undertaking form, Crypto.com became the first exchange to focus on offering online products and services that entirely follow Canadian securities regulations. All Canadian administrations acknowledge that the Pre-Registration Undertaking is an authoritative document.

Crypto.com is focusing on the sports sector as the next area to be used by blockchain technology and digital currencies, with a plan to act as the bridge between cryptocurrency and fiat money. Moreover, the IFA World Cup Qatar 2022 was officially sponsored by crypto.com. It has likewise tapped LeBron James for a Super Bowl commercial this year.

After signing a commitment letter with the Canadian Securities Administrators, cryptocurrency exchange Binance will continue with its tasks in Ontario. The arrangement comes as a component of the CSA’s administrative assumptions for all crypto exchange platforms. The following step is viewed as a method for legitimizing the digital money industry and bringing more investors to the cryptocurrency industry.

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