Stablecoin

Chair

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In the realm of crafting written content, three pivotal factors come into play: “perplexity,” “burstiness,” and “predictability.” Perplexity delves into the intricacy of the text, while burstiness examines the diversity of sentence structures. On the other hand, predictability gauges the likelihood of accurately anticipating the subsequent sentence. Humans naturally infuse their writing with a touch of burstiness, incorporating both longer, complex sentences and shorter ones. In contrast, AI-generated sentences often exhibit a more uniform pattern. Hence, when embarking on the task of composing the following text, it is imperative to inject a healthy dose of perplexity and burstiness while minimizing predictability. Additionally, the text should be exclusively in English. Now, let’s reimagine the provided content:
The overarching body representing regulators for the <a rel="noopener noreferrer nofollow" title="Canadian" href="https://thebittimes.com/tag/canadian.html">Canadian</a> securities industry has outlined a set of conditions governing the trading and issuance of <a rel="noopener noreferrer nofollow" title="Stablecoin" href="https://thebittimes.com/tag/stablecoin.html">Stablecoin</a>s. The <a rel="noopener noreferrer nofollow" title="Canadian" href="https://thebittimes.com/tag/canadian.html">Canadian</a> Securities Administrators (CSA) have proffered comprehensive guidance to cryptocurrency <a rel="noopener noreferrer nofollow" title="exchanges" href="https://thebittimes.com/tag/exchanges.html">exchanges</a> and <a rel="noopener noreferrer nofollow" title="issuers" href="https://thebittimes.com/tag/issuers.html">issuers</a> concerning their interim strategy regarding what they refer to as “value-referenced crypto assets,” with a specific emphasis on <a rel="noopener noreferrer nofollow" title="Stablecoin" href="https://thebittimes.com/tag/stablecoin.html">Stablecoin</a>s.
On the 5th of October, the umbrella organization encompassing provincial and territorial securities regulators in Canada released a clarification, indicating its potential willingness to permit the trading of specific cryptocurrencies tethered to the value of a single fiat currency, contingent upon prescribed terms and conditions. Earlier in February, the CSA reiterated its stance that stablecoins “may constitute securities and/or derivatives,” which Canadian crypto exchanges are proscribed from trading.
Nevertheless, there exists a window of opportunity. If <a rel="noopener noreferrer nofollow" title="issuers" href="https://thebittimes.com/tag/issuers.html">issuers</a> maintain an appropriate reserve of assets with a qualified custodian, and if crypto <a rel="noopener noreferrer nofollow" title="exchanges" href="https://thebittimes.com/tag/exchanges.html">exchanges</a> that deal in <a rel="noopener noreferrer nofollow" title="Stablecoin" href="https://thebittimes.com/tag/stablecoin.html">Stablecoin</a>s make “certain information related to governance, operations, and asset reserves” publicly accessible, then the CSA might consider allowing the trading of these assets. Stan Magidson, Chair and CEO of the Alberta Securities Commission, who also serves as the CSA Chair, articulated in a statement, “This interim framework, upon which we will continue to build in the future, establishes specific standards aimed at ensuring that investors receive comprehensive information about the assets they are acquiring, including the associated risks.”
It’s essential to note, however, that the CSA has issued a cautionary advisory. Fiat-backed crypto assets that satisfy these terms are by no means devoid of risk and should not be misconstrued as being officially endorsed or devoid of risk.
In a report from August, Cointelegraph highlighted that the newfound regulatory clarity in Canada has sparked increased interest in cryptocurrencies among institutional players. Back in July, the CSA issued directives regarding staking, indicating its permissibility, albeit with limited lending opportunities and restrictions imposed on the proportion of “illiquid” assets.
Over the past 18 months, the market capitalization of stablecoins has experienced a notable decline and currently stands at $123 billion, representing approximately 11% of the total cryptocurrency market capitalization.
The post Stablecoin regulations for exchanges and issuers are clarified by a Canadian regulatory authority. appeared first on BitcoinWorld.
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/stablecoin-regulations-for-exchanges-and-issuers-are-clarified-by-a-canadian-regulatory-authority-tbt65423.html">https://thebittimes.com/stablecoin-regulations-for-exchanges-and-issuers-are-clarified-by-a-canadian-regulatory-authority-tbt65423.html</a>

Stablecoin regulations for exchanges and issuers are clarified by a Canadian regulatory authority.

TheBitTimes

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