In a move to provide clarity and guidance to crypto asset trading platforms, the Canadian Securities Administrators (CSA) has issued interim terms for the trading of stablecoins.

The CSA’s new guidelines, which reflect the organization’s understanding of the role stablecoins can play in Canada, may permit the continued trading of certain fiat-backed crypto assets under specific conditions.

Canada CSA Says Stablecoins Could Be Securities

Stan Magidson, CSA Chair and CEO of the Alberta Securities Commission, reaffirmed in a blog post that:

“Value-referenced crypto assets [stablecoins], which are designed and promoted to maintain a stable value over time in relation to a reference asset, may constitute securities and/or derivatives.”

The interim terms require issuers to maintain appropriate reserves of assets and make information related to governance, operations, and reserve of assets publicly available. This move also aims to safeguard investors and uphold the integrity of the Canadian capital markets. 

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Author: BeInCrypto Team

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