Canadian securities regulators have postponed the compliance deadline for cryptocurrency exchanges to the end of 2024

2024-09-29 10:22:17

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ChainCatcher news, according to DL News, Canadian securities regulators have extended the compliance deadline for cryptocurrency trading platforms to the end of 2024. Previously, there were concerns about the risks associated with stablecoins pegged to fiat currency, and the Canadian Securities Administrators (CSA) have prioritized investor protection. The new deadline was initially set for October, giving exchanges more time to meet regulatory requirements or propose safer alternatives. If these platforms fail to comply by the end of the year, they may face penalties, including being prohibited from offering certain products to Canadian users.

In recent years, platforms like Binance, KuCoin, and Poloniex have been forced to exit Canada. Despite the challenges, exchanges such as Kraken, Coinbase, and Bitget continue to operate under these stricter regulations.

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