{"id":526562,"date":"2022-12-13T16:53:58","date_gmt":"2022-12-13T13:53:58","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/canada-bans-crypto-leverage-and-margin-trading-after-ftx-collapse\/"},"modified":"2022-12-13T16:53:58","modified_gmt":"2022-12-13T13:53:58","slug":"canada-bans-crypto-leverage-and-margin-trading-after-ftx-collapse","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/canada-bans-crypto-leverage-and-margin-trading-after-ftx-collapse\/","title":{"rendered":"# Canada bans crypto leverage and margin trading after FTX collapse"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2e43d67a13e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2e43d67a13e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/canada-bans-crypto-leverage-and-margin-trading-after-ftx-collapse\/#%E2%80%9D_Canada_bans_crypto_leverage_and_margin_trading_after_FTX_collapse_%E2%80%9C\" >&#8221; Canada bans crypto leverage and margin trading after FTX collapse &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Canada_bans_crypto_leverage_and_margin_trading_after_FTX_collapse_%E2%80%9C\"><\/span>&#8221; Canada bans crypto leverage and margin trading after FTX collapse &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTIvZWFjODdjNDctNDNjOC00MTcyLWJmMzUtZDBmNDhlNWE4ZjhiLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-30a6cf80>Authorities in Canada are taking measures to better protect Canadian cryptocurrency investors in the aftermath of the FTX collapse and the spreading contagion.<\/p>\n<p>The Canadian Securities Administrators (CSA), the council of Canada\u2019s provincial and territorial securities regulators, on Dec. 13 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.securities-administrators.ca\/news\/csa-provides-update-to-crypto-trading-platforms-operating-in-canada\/\">issued<\/a> an update to crypto trading platforms operating in the country.<\/p>\n<p>The CSA said that the authority has been reinforcing its <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach to the supervision of crypto trading platforms by expanding existing requirements.<\/p>\n<p>According to the statement, all crypto trading firms operating in Canada \u2014 both local and foreign ones \u2014 have to comply with newly expanded terms, which ban them from offering margin or leverage trading services to any Canadian clients.<\/p>\n<p>The expanded terms also require crypto exchange services providers in Canada to segregate custody assets from the platform\u2019s proprietary business.<\/p>\n<p>\u201cCustodians will <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>ly be considered qualified if they are regulated by a financial regulator in Canada, the U.S., or a similar jurisdiction with a supervisory regime for conduct and financial regulation,\u201d the CSA noted in the statement.<\/p>\n<p>The council emphasized that even with the adoption of these measures, crypto assets or any financial products related to crypto assets are high-risk investments, urging investors to only invest using a platform that is registered with CSA members.<\/p>\n<p>The CSA did not im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely respond to Cointelegraph\u2019s request for comment.<\/p>\n<p>In the new statement, the CSA mentioned its previous communication to crypto trading platforms operating in Canada, issued on Aug. 15, 2022. The authority stated that it expected commitments from unregistered crypto trading platforms operating in Canada while they pursue registration in the form of pre-registration undertaking.<\/p>\n<p>The CSA communication came shortly after FTX entered into an agreement to purchase the Canadian crypto platform Bitvo in June 2022. FTX originally planned to use the acquisition as part of its global expansion plans. However, Bitvo eventually managed to terminate the acquisition by the now-defunct exchange, which allowed the firm to continue operating even after FTX\u2019s collapse.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>SEC charges former FTX CEO SBF for defrauding investors a day after his arrest<\/em><\/strong><\/p>\n<p>Bitvo CEO Pamela Draper told Cointelegraph in November that the acquisition wasn\u2019t completed because the firms were working to satisfy the closing conditions, the most significant of which was regulatory approval from the Alberta Securities Commission.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/canada-bans-crypto-leverage-and-margin-trading-after-ftx-collapse\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Canada bans crypto leverage and margin trading after FTX collapse &#8220; Authorities in Canada are taking measures to better protect Canadian cryptocurrency investors in the aftermath of the FTX collapse and the spreading contagion. The Canadian Securities Administrators (CSA), the council of Canada\u2019s provincial and territorial securities regulators, on Dec. 13 issued an update&#8230;<\/p>\n","protected":false},"author":1,"featured_media":526563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/eac87c47-43c8-4172-bf35-d0f48e5a8f8b.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,74860,135234,117,22974,3123,70934,71407],"class_list":["post-526562","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-ftx","tag-business","tag-canada","tag-leverage","tag-regulation","tag-trading"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/526562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=526562"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/526562\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/526563"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=526562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=526562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=526562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}