20 January 2020 by Antoine
In order to prepare the consumer society to the future regulations of the crypto-currencies into the canadian market, the AVCM has published a guide stating the main lines of exploitation of this technology. The objective of the organization is focused on the clarification of the operation of crypto-currencies in the country.
New directives in the absence of regulation
Although Canada is listed as one of the most advanced countries in terms of supervision of the activities of crypto-currencies, it does not yet have specific regime for the exploitation of these new asset classes in the context of the securities laws.
In this perspective, the regulatory Organization of canada securities (AVCM) has decided to publish a “guide” which defines the use of crypto-currencies to evade these laws, so that transactions from this sector do not interfere with other activities on the securities in the absence of formal regulation.
The operation of the crypto-markets is difficult to govern
The application of the current standards on the securities is not conceivable for the crypto-exchanges in the sense that some of the decentralized systems may not be governed by these laws. In this case, the current regime only applies the crypto exchanges centralized, that is why the majority of crypto-platforms, which are responsible for managing client funds in a decentralized network are not subject to the securities laws.
As explained by Louis Morisset of the ASC :
“As we continue to review the comments and the responses to the consultation that we launched last year, the staff notice published today will help the platform operators to determine whether their activities are subject to securities legislation “
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