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

Futures trading
World exchanges
Oil futures trading at negative prices is now available on the Moscow Stock Exchange
11.03.2021
Tel Aviv Exchange
World exchanges
Tel Aviv Exchange launches its own project to tokenize government bonds
12.12.2022
The best stock exchanges in the world
World exchanges
Best stock exchanges in the world: India’s oldest stock exchange
04.07.2020
SBI Holdings
World exchanges
Japanese SBI Holdings plans to launch its own exchange for tokenized securities
01.11.2020
Crypto exchange Coinbase
World exchanges
Crypto exchange Coinbase plans to scale business in Europe
22.09.2022
Chicago Board Options Exchange
World exchanges
Chicago Board Options Exchange resumes trading in cryptocurrency futures
26.12.2021

Recent Posts

  • 1cryptocurrency whales are acquiring Ethereum
    Cryptocurrency whales are buying up Ethereum altcoin as its price has fallen
    06.02.2023
  • 2voice assistant Alexa
    Alexa voice assistant forces Amazon to go to extremes
    05.02.2023
  • 3Merck
    Merck announced a deal with Imago
    04.02.2023
  • 4slowdown in inflation in Germany
    Germany and other countries recorded a slowdown in inflation
    03.02.2023
  • 5John Craig Venter
    Who is John Craig Venter and his contribution to science
    02.02.2023

Popular Posts

  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Why the Federal Reserve System (FRS) refused to raise interest rates

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

cryptocurrency whales are acquiring Ethereum
Cryptocurrency whales are buying up Ethereum altcoin as its price has fallen
06.02.2023
voice assistant Alexa
Alexa voice assistant forces Amazon to go to extremes
05.02.2023
Merck
Merck announced a deal with Imago
04.02.2023

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

  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Why the Federal Reserve System (FRS) refused to raise interest rates
  • The success story of the company with the most expensive shares – Berkshire Hathaway Inc
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