On October 5, 2023, the Canadian Securities Administrators published guidance on dealing in Stablecoins, including by imposing updated terms and conditions for crypto asset trading platforms that offer Stablecoins, and requiring issuers of certain Stablecoins to provide undertakings in a form substantially acceptable to the regulators by December 1, 2023. For a complete discussion, click here.
On June 7, 2023, the Canadian Department of Finance issued a public consultation contemplating certain changes to Canada’s anti-money laundering and anti-terrorist financing (AML/ATF) regime (“Consultation Paper”), including proposals affecting virtual currency, digital assets, and technology-enabled finance in Canada. The consultation paper can be accessed here and submissions may be made up to August 1, 2023. Click here to access our Alert that discusses the Paper in greater detail