For the past three months, a once little-known Canadian crypto asset exchange, QuadrigaCX, has been making headlines the world over. The story has graced the front pages of Bloomberg, Fortune, and effectively every trade publication in circulation. But despite this widespread coverage, authorities in the nation just north of the United States were slow to act. Until now anyway.
The Canadian Securities Administrators (CSA) was recently revealed to be looking into establishing a regulatory framework for trading platforms.
QuadrigaCX Debacle May Have Sparked Response from Regulators
In a move that can be described as a little too late, the CSA is exploring its options when it comes to establishing an umbrella framework for local cryptocurrency exchanges to abide by. In a 28-page consultation paper released Wednesday, the entity, which represents the financial regulators of each Canadian province and territory, laid out its thoughts on digital assets, like Bitcoin, and how regulation of the respective ecosystems could be addressed…