We can look back to 2023 as a year of categorization and enforcement in the crypto space across the world, with significant local and international developments impacting the crypto markets and their regulation in Canada. This was no surprise, as such developments came following the turbulence of 2022 where many important crypto institutions crashed and went bankrupt, resulting in immense financial consequences for investors and users involved.
Attempts to qualify crypto assets at law, to develop applicable regulations and to enforce current legislation have multiplied since late 2022 and throughout last year. The Canadian Securities Administrators (CSA) released various staff notices to provide a more precise legal framework for crypto assets, including differentiated frameworks according to types of stablecoins. In general, regulators in the United States and Canada have been focused on integrating crypto trading…
