Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
guidelines for cryptocurrency exchanges
World exchanges

Canada releases guidelines for cryptocurrency exchanges

25.05.2022
2 min read

Guidelines for cryptocurrency exchanges regulate promotions

The Government of Canada has issued guidelines for cryptocurrency exchanges regarding the use of social media and advertising campaigns. The authors of the document were the Commission, which deals with securities, and the organization, which controls the investment activity in the country.
The guidelines contain several points that regulate the operation of trading platforms in certain sectors. For example, it specifies the options under which marketing information and advertising can be considered untrue and misleading to users. Exchanges that conduct operations with cryptocurrency also need to be careful when conducting various contests and promotions that offer users attractive bonuses or rewards for a particular action. The regulator monitors the promotion of sites through social networks, and in general monitors the clear adherence to the rules of conducting activities with securities.
The government explains its decision to issue detailed guidelines by the desire to protect investors from risky and suspicious steps in trading with digital money. The authors of the document emphasize that the development of the capital market as a whole, as well as its transparency, depends on the lawful actions of registered participants. Therefore, it is necessary to minimize cases that could harm both the reputation of the exchange and the segment.Canada presented guidelines for cryptocurrency exchangesThis is the second document from regulators aimed at organizing the cryptocurrency market in Canada. Earlier, it issued a regulatory framework for digital money companies. This paper includes recommendations for risk management, as well as standards that allow for insurance and custody of assets. All points of the regulatory framework help market participants make transactions transparent and protected for all parties to the transactions.
Canada is among the countries that have prepared a strong legislative framework for the cryptocurrency sphere. This strategy helps reduce the likelihood of fraudulent schemes and shady transactions with e-money. Not so long ago, the supervisory authority revised the rules for customer verification of companies that conduct activities related to cryptocurrency. The innovations apply to both local legal entities and foreign ones that provide financial services through special platforms.
According to the document, companies must verify the identity of the user if:
– he receives the equivalent of $10,000 or more in cryptocurrencies per day;
– transfer or exchange of funds for more than $1,000;
– the transaction raises doubts about the legality.
In this case, the regulator does not check the state organizations, as well as companies whose assets are 75 million dollars and whose shares are listed on the Canadian Stock Exchange. A number of exchanges have already provided data on their users who made transfers of large sums.

Tags: World exchanges
0
Previous Post How IT in banks helps transform the sector Next Post German business expects reduction in investment: survey

You Might Also Like

The Brazilian Stock Exchange B3
World exchanges
Brazilian Stock Exchange expands services for its clients
13.08.2022
The Nasdaq Stock Exchange
World exchanges
The Nasdaq Stock Exchange is creating its platform on a block list
10.01.2021
China's stock exchanges
World exchanges
China’s stock exchanges are the world leaders in the number of IPOs
14.09.2022
Huobi
World exchanges
CryptoQuant: net reserves of cryptocurrency Huobi – only 56.6%
18.03.2023
troubled crypto exchanges-2
World exchanges
SEC to closely monitor troubled crypto exchanges
26.03.2023
expand its range
World exchanges
Moscow Exchange plans to expand its range of financial instruments
20.04.2021

Recent Posts

  • 1Noventiq
    Noventiq plans to float on the Nasdaq exchange
    29.05.2023
  • 2AI impact on transformation of the economy
    Is the world facing an imminent economic transformation?
    28.05.2023
  • 3Siemens digital bond
    Siemens digital bond: industrial giant offers to invest in blockchain-based securities
    27.05.2023
  • 4credit rating
    The Fitch agency left Latvia’s credit rating unchanged
    26.05.2023
  • 5Ernest Rady
    Ernest Rady: talented financier and successful businessman
    25.05.2023

Popular Posts

  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses
  • John DeJoria: from a homeless man to a billionaire

Social media

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Latest Posts

Noventiq
Noventiq plans to float on the Nasdaq exchange
29.05.2023
AI impact on transformation of the economy
Is the world facing an imminent economic transformation?
28.05.2023
Siemens digital bond
Siemens digital bond: industrial giant offers to invest in blockchain-based securities
27.05.2023

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh – an expert in marketing and project management, IT consulting, international investments, investor, financial analyst. A commodity trader, private consultant, entrepreneur, lecturer, author of several articles on the stock market.

Popular Posts

  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses
  • John DeJoria: from a homeless man to a billionaire
  • Richard Dennis: the story of the trader who invented the turtle method
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram
  • Biography

Chaslau Koniukh – an expert in marketing and project management, international investments, financial analyst.

Social media

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics