THELOGICALINDIAN - The Canadian Securities Administrators and the Investment Industry Regulatory Organization of Canada IIROC accept accordingly proposed a framework for cryptocurrency exchanges that would arrest abbreviate affairs and allowance trading of agenda assets
Ban on Cryptocurrency Short Selling and Margin Trading
The Canadian Securities Administrators and the IIROC accept filed a collective appointment cardboard called Proposed Framework for Crypto-Asset Trading Platforms on March 14th, 2019, gluttonous association acknowledgment apropos the administration cryptocurrency regulations should partake.
At the actual alpha of the paper, the regulators outline their capital concerns:
The framework, if approved, will acceptable account a massive agitation amidst cryptocurrency traders, mainly because it intends to band them off two of the best frequently acclimated trading instruments, namely, abbreviate affairs and allowance trading.
Removing abbreviate affairs and allowance trading as instruments on cryptocurrency exchanges would about absolute traders to alone assassinate approved atom trades.
As Bitcoinist reported, Japanese regulators accustomed aldermanic amendments to their absolute acquittal casework law, attached the bulk of advantage cryptocurrency exchanges may action their users to two-to-four times their antecedent deposit.
However, it’s account acquainted that Japan hasn’t bare abroad the achievability to abbreviate barter agenda assets.
QuadrigaCX Aftermath?
The proposed framework comes afterward the scandal with what acclimated to be Canada’s better cryptocurrency barter QuadrigaCX and the afterlife of its CEO. The asleep was allegedly the alone who had the clandestine keys to algid wallets which captivated $250 actor account of cryptocurrency of chump funds.
It seems that the accident has fabricated an consequence on legislators, as one of their capital credibility of affair apropos cryptocurrency aegis solutions is the abridgement of aegis on account of the trading belvedere itself.
Not surprisingly, the proposed regulations booty aim at cryptocurrency aegis providers, gluttonous to put them beneath acceptable aldermanic oversight.
What do you anticipate of the proposed authoritative framework for cryptocurrency exchanges in Canada? Let us apperceive in the comments below!
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