Canada mulls setting rules for crypto platforms

Canadian regulators are looking to create new rules for crypto trading platforms, months after the death of the founder of digital platform Quadriga CX that led to about C$180 million ($135 million) in frozen cryptocurrencies.

The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) said on Thursday they are considering a set of tailored regulatory requirements to address the “novel features and risks” of crypto platforms.

“We must adapt to innovation, and provide clarity to the market about how regulatory requirements might best be tailored and applied to these unique business models, while maintaining investor protection,” IIROC Chief Executive Officer Andrew Kriegler said in a statement.