Chair

Bitcoin

<div class="cryptonews">
 <p class="is-style-lead">The Canadian Securities Administrators (CSA) has issued new guidelines clarifying the treatment of stablecoins in the country, acknowledging their importance.</p>
 <p>The CSA also reveals that crypto service providers may be allowed to offer services for <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>s linked to a single fiat currency.</p>
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 <p>Stan Magidson, CSA Chair and CEO of the Alberta Securities Commission, emphasized the need for transparency in value-referenced crypto assets, including their reserves and governance, to protect Canadian investors and maintain market integrity.</p>
 <p>He added that the framework will “further refine, establishes standards to ensure investors receive necessary information about the assets they are buying, along with associated risks.”</p>
 <p>These interim conditions were developed in response to feedback from crypto market participants.</p>
 <p>The CSA’s goal is to establish clear guidelines for the treatment of stablecoins in Canada to safeguard investors.</p>
 <p>The key provisions set by the <a rel="noopener noreferrer nofollow" title="regulator" href="https://thebittimes.com/tag/regulator.html">regulator</a> include will require the <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> issuer to maintain a suitable reserve of assets held by a qualified custodian for the benefit of crypto asset holders.</p>
 <p>Additionally, the issuer and platforms offering these <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>s must make specific information concerning governance, operations, and asset reserves publicly accessible.</p>
 <p>The CSA also cautions investors about the distinct nature of <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>s compared to fiat currency and highlights the associated investment risks.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/canadian-regulator-unveils-clear-guidelines-for-stablecoins-tbt65331.html">https://thebittimes.com/canadian-regulator-unveils-clear-guidelines-for-stablecoins-tbt65331.html</a></p>

Canadian regulator unveils clear guidelines for stablecoins

TheBitTimes

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