PANews reported on September 29 that according to DL News, Canadian securities regulators have extended the compliance deadline for crypto trading platforms until the end of 2024. Prior to this, people had been concerned about the risks of stablecoins pegged to fiat currencies, and the Canadian Securities Administrators (CSA) made investor protection a priority. The new deadline was originally set for October, giving exchanges more time to meet regulatory requirements or come up with safer alternatives. If these platforms fail to comply by the end of the year, they may face penalties, including being banned from offering certain products to Canadian users.
In the past few years, exchanges such as Binance, KuCoin, and Poloniex have been forced to exit Canada. Despite the challenges, exchanges such as Kraken, Coinbase, and Bitget continue to operate under these stricter regulations.
