Key Point

• Unregistered crypto businesses have been given a 30-day deadline to register their business in Canada

Regulators of various countries of the world are igniting fresh policies on crypto firms following the meltdown of Terra-Luna and FTX exchange, while some countries’ regulators are embracing crypto businesses, others are introducing stringent policies.

As per recent reports, Canadian financial regulators have announced a 30-day deadline for the registration of unregistered crypto businesses in the country in line with the newly introduced regulations.

Canada recently introduced more stringent regulations on cryptocurrency, and this however has forced some crypto firms like OKX, Deribit and others out of the country while companies like Binance and Gemini refused to suspend operations in Canada.

Part of the newly introduced regulations is that crypto firms that want to continue to exist in Canadian markets are required to comply with new stricter policies on the segregation of customers’ assets. Furthermore, crypto businesses in Canada are as well not allowed to provide margin or leverage options in Canada.

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