Registered crypto asset trading platforms
This page was last updated on October 11, 2024.
The following crypto asset trading platforms have received exemptive relief to offer crypto products to investors in Ontario
Name | Category of Registration | Date of Exemptive Relief (Most recent decision only) |
---|---|---|
Bitbuy Technologies Inc. (Bitbuy) | Restricted Dealer (Dealer and Marketplace) | May 30, 2024 [Expired - business acquired by Coinsquare] |
Bitvo Inc. | Restricted Dealer (Dealer) | April 25, 2022 [Expired – business acquired by Bitbuy] |
Coinberry Limited (Coinberry) | Restricted Dealer (Dealer) | August 19, 2021 [Expired – business acquired by Bitbuy] |
Coinsquare Capital Markets Ltd., also carrying on business as Bitbuy | Investment Dealer (Dealer and Marketplace) | October 11, 2024 |
Coinbase Canada Inc. | Restricted Dealer (Dealer and Marketplace) | April 3, 2024 |
Fidelity Clearing Canada ULC (Fidelity Digital Assets) | Investment Dealer (Dealer) | April 18, 2024 |
Fidelity Digital Asset Services, LLC | Exempt Marketplace and Clearing Agency | January 18, 2023 |
Hibit Technology Ltd. | Restricted Dealer (Dealer) | September 14, 2023 |
Netcoins Inc. (Netcoins) | Restricted Dealer (Dealer) | October 6, 2023 |
Newton Crypto Ltd. | Restricted Dealer (Dealer) | March 8, 2024 |
Shakepay Inc. | Restricted Dealer (Dealer) | May 25, 2023 |
Simply Digital Technologies Inc. (carrying on business as CoinSmart) | Restricted Dealer (Dealer and Marketplace) | December 21, 2021 [Expired – business acquired by Bitbuy] |
VirgoCX | Restricted Dealer (Dealer) | May 30, 2024 |
Wealthsimple Digital Assets Inc. | Restricted Dealer (Dealer) | June 23, 2023 [Expired January 1, 2024] |
Wealthsimple Investments Inc. | Investment Dealer (Dealer) | December 18, 2023 [Effective January 1, 2024] |
Registered crypto asset trading platforms are subject to terms and conditions, which can be viewed in the individual exemptive relief decisions linked in the chart above.
As explained in CSA Staff Notice 21-332 Crypto Asset Trading Platforms: Pre-Registration Undertakings - Changes to Enhance Canadian Investor Protection, the Canadian Securities Administrators (CSA) expect unregistered CTPs that satisfy eligibility criteria to provide a pre-registration undertaking to their Principal Regulator while their applications for registration and related relief are reviewed. By giving these undertakings, unregistered CTPs agree to comply with provisions that address investor protection concerns and are consistent with requirements currently applicable to registered CTPs. These commitments are generally consistent with requirements currently applicable to registered CTPs and are intended to address investor protection and level-playing-field concerns, as explained below.
The following crypto asset trading platforms have entered into a pre-registration undertaking with their principal regulator to continue operations while their application for registration is reviewed.
Name | Date of pre-registration undertaking |
---|---|
ByteX Financial Ltd. Et al operating as ByteX | March 24, 2023 |
CatalX CTS Ltd. operating as CatalX | March 24, 2023 [Withdrawn – Subject to cease trade order issued by the Alberta Securities Commission] |
Coinbase Canada, Inc. et al operating as Coinbase | March 24, 2023 [Replaced by exemptive relief decision above] |
Coinsquare Capital Markets Limited | [Replaced by exemptive relief decision above] |
Foris DAX, Inc. operating as Crypto.com | August 3, 2022 |
DigiFinex Canada Limited et al operating as DigiFinex | March 24, 2023 |
Gemini Trust Company, LLC et al operating as Gemini | March 24, 2023 |
Payward Canada Inc. et al operating as Kraken | March 24, 2023 |
NDAX Canada Inc. operating as NDAX | March 24, 2023 |
Satstreet Inc. | March 24, 2023 |
Shakepay Inc. et al operating as Shakepay | [Replaced by exemptive relief decision above] |
Uphold Worldwide Ltd. et al operating as Uphold | March 27, 2023 |
On March 29, 2021, the OSC communicated to crypto asset trading platforms that they must contact Staff to initiate the registration process, or face enforcement action.
The OSC continues to work with firms (for which it is Principal Regulator) that initiated compliance discussions with Staff to assess the appropriate path to registration in Ontario.
Unregistered platforms operating in Ontario that are non-compliant may be included on the OSC Investor Warnings and Alerts Page and subject to regulatory action, including temporary orders.
Registered and unregistered platforms are reminded that OSC staff may review their compliance with securities law requirements, including in relation to advertising and marketing. False or misleading advertising and improper marketing strategies raise concerns about the fitness of a firm and its principals for registration. For recent guidance, see Joint CSA-IIROC Staff Notice 21-330 Guidance for Crypto-Trading Platforms - Requirements relating to Advertising, Marketing and Social Media Use.
Visit the Canadian Securities Administrators’ website for a list of crypto asset trading platform decisions in other jurisdictions.
Reports and publications
- August 6, 2024 - CSA and CIRO expect crypto trading platforms to prioritize applications for investment dealer registration and CIRO membership
- September 26, 2024 - CSA provides update to crypto asset trading platforms about value-referenced crypto assets
- April 17, 2024 - Canadian securities regulators provide update on interim approach to value-referenced crypto assets
- October 5, 2023 - Canadian securities regulators clarify interim approach to value-referenced crypto assets
- October 2, 2023 - OSC alleges multiple breaches of securities law by offshore crypto asset trading platform
- September 6, 2023 - OSC continues to hold non-compliant crypto asset trading platforms accountable
- July 6, 2023 - Canadian securities regulators outline expectations for investment funds holding crypto assets
- April 12, 2023 - Canadian securities regulators provide update on pre-registration undertakings for crypto asset trading platforms
- February 22, 2023 - Canadian securities regulators strengthen oversight, enhance expectations of crypto asset trading platforms operating in Canada
- December 12, 2022 - CSA provides update to crypto trading platforms operating in Canada
- November 21, 2022 - Canadian securities regulators remind investors about risks of trading crypto assets
- November 1, 2022 - OSC announces Financial Literacy Month initiatives including new crypto content
- October 19, 2022 - OSC survey explores Canadians crypto ownership and knowledge
- September 30, 2022 - OSC alleges fraud in multimillion-dollar crypto asset offering
- August 15, 2022 - Canadian securities regulators expect commitments from crypto trading platforms pursuing registration
- June 22, 2022 - OSC holds global crypto asset trading platforms accountable
- March 11, 2022 - Fraud Prevention Month: Canadian Securities Administrators encourages Canadians to invest in asking questions before investing in crypto assets
- January 17, 2022 - Canadian securities regulators issue warning about fraudulent investment solicitations involving crypto assets
- September 23, 2021 - Canadian securities regulators outline expectations for advertising and marketing by crypto trading platforms
- August 19, 2021 - OSC takes action against fourth non-compliant international crypto asset trading platform
- June 21, 2021 - OSC takes action against non-compliant international crypto asset trading platform Bybit
- June 7, 2021 - OSC takes action against second non-compliant international crypto asset trading platform
- May 25, 2021 - OSC takes action against non-compliant international crypto asset trading platform
- March 29, 2021 - Canadian securities regulators outline regulatory framework for compliance for crypto asset trading platforms
- 81-336 - CSA Staff Notice 81-336 Guidance on Crypto Asset Investment Funds That Are Reporting Issuers
- 51-363 - CSA Staff Notice 51-363 – Observations on Disclosure by Crypto Assets Reporting Issuers
- CSA-IIROC Staff Notice 21-330 Guidance for Crypto-Trading Platforms - Requirements relating to Advertising, Marketing and Social Media Use
- Joint Canadian Securities Administrators/Investment Industry Regulatory Organization of Canada Staff Notice 21-329 Guidance for Crypto-Asset Trading Platforms: Compliance with Regulatory Requirements
- 21-327 - CSA Staff Notice 21-327 Guidance on the Application of Securities Legislation to Entities Facilitating the Trading of Crypto Assets
- CSA Staff Notice 46-307 Cryptocurrency Offerings
- 21-333 - Crypto Asset Trading Platforms: Terms and Conditions for Trading Value-Referenced Crypto Assets with Clients
- 21-332 - Crypto Asset Trading Platforms: Pre-Registration Undertakings – Changes to Enhance Canadian Investor Protection
- Form 33-109F5 requirement for registered firms that establish, manage, advise and/or trade in securities of cryptocurrency investment funds