Canadian Securities Administrators Propose Amendments to Cryptocurrency Investment Fund Requirements
The Canadian Securities Administrators (CSA) proposed amendments to regulations on how public investment funds handle cryptocurrency assets, with the aim of further clarifying custody rights and rules for funds handling cryptocurrency assets. Under the amendment, only alternative investment funds and non-redeemable investment funds are allowed to directly purchase, sell, or hold cryptocurrency assets, while other mutual funds can only invest in these funds to obtain exposure to cryptocurrencies.
In addition, the invested assets must be listed on an exchange recognized by the Canadian securities regulatory authority and must be interchangeable. The assets must also be insured and stored in cold wallets, and the internal management of the custodian must be audited annually by public accountants. The proposal will solicit opinions publicly within 90 days, and then draft a consultation paper and consider a broader regulatory framework for cryptocurrency assets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Blockchain Association Urges Congress to Repeal IRS DeFi Broker Rule

Shiba Inu Price Faces Bearish Trends Amid 79% Decline in Whale Moves

Here’s How Much Bitcoin U.S. States Could Accumulate

NFTScan Joins Conduit Marketplace to Expand NFT Data Access Across 20+ Blockchains
Trending news
MoreCrypto prices
More








