Crypto asset trading platforms that hold cryptocurrencies on behalf of clients must comply with securities legislation and register with regulatory commissions. This guide covers registered platforms, pre-registration undertakings, and banned entities in Canada.
Key Requirements for Registration
To operate legally, crypto trading platforms must:
- Comply with securities legislation
- Register with the relevant Commission
- Meet operational and internal control standards
- Provide transparent client disclosure documents
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Registered Crypto Trading Platforms in New Brunswick
The following platforms have received exemptive relief and are authorized to offer crypto products:
| Platform Name | Registration Category | Exemptive Relief Date |
|---|---|---|
| Bitbuy Technologies Inc. | Restricted Dealer | May 30, 2024 |
| Coinbase Canada, Inc. | Restricted Dealer | April 3, 2024 |
| Coinsquare Capital Markets | Investment Dealer | October 11, 2024 |
| Fidelity Digital Assets | Investment Dealer | April 18, 2024 |
| Crypto.com | Restricted Dealer | May 8, 2025 |
| Wealthsimple Investments | Investment Dealer | December 18, 2023 |
Note: Some business acquisitions may affect current registration status.
Platforms Under Pre-Registration Review
These platforms continue operations while completing registration:
| Platform Name | Undertaking Date |
|---|---|
| Gemini | March 24, 2023 |
| Uphold | March 27, 2023 |
| DigiFinex | March 24, 2023 |
Banned Platforms in Canada
The following are prohibited from operating:
| Platform Name | Ban Date |
|---|---|
| KuCoin | June 21, 2022 |
| Poloniex | October 27, 2022 |
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Regulatory Compliance and Investor Protection
The Commission actively:
- Reviews platform compliance
- Monitors advertising practices
- Takes action against non-compliant operators
Unregistered platforms may appear on the Caution List and face regulatory action.
FAQ: Crypto Platform Registration in Canada
Q: Why must crypto platforms register?
A: Registration ensures compliance with securities laws and investor protection standards.
Q: How can I verify a platform's registration status?
A: Check the Commission's official website or the platform's regulatory disclosures.
Q: What happens to banned platforms?
A: They cannot legally operate in Canada and may face enforcement actions.
Q: Are pre-registration platforms safe to use?
A: They operate under supervision while completing registration requirements.
Q: How often does registration status change?
A: Platforms must renew registration annually, and status can change due to acquisitions or compliance issues.
Q: Where can I report non-compliant platforms?
A: Contact your provincial securities commission or financial regulator.
For more details on crypto regulations, see the Joint CSA-IIROC Guidance Notice.