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Interesting, looks like a blanket statement that any stablecoin could be considered a security or derivative. > the CSA is of the view that stablecoins, or sta
by arsome 4y ago
Interesting, looks like a blanket statement that any stablecoin could be considered a security or derivative.
> the CSA is of the view that stablecoins, or stablecoin arrangements, may constitute securities and/or derivatives. Crypto trading platforms that are registered or that have entered into a pre-registration undertaking are reminded that they are prohibited from permitting Canadian clients to trade, or obtain exposure to, any crypto asset that is itself a security and/or a derivative.
- jasonlingx 4y agoThe other stablecoins are unaffected though…
- junofan 4y agoLuckily the CSA has no power.
- stevenhuang 4y agoYou are on a thread discussing crypto.coms decision to delist tether as result of CSA's ruling...
- junofan 4y agoCan you link me to this “ruling?”
- scoopertrooper 4y agoGOP included a link to the CSA press release. I don’t know what more you’re expecting here or what particular point you’re trying to make.
- JumpCrisscross 4y ago> the CSA has no power Ontario’s securities regulator is on par with the toughest state securities regulators in America. They also have cross-border powers that lends them the jurisdictional heft of the American financial system.
- acaloiar 4y agoI must be missing a crucial detail. Logically Crypto.com's action: > any remaining USDT balances would “automatically” be converted to Circle’s USD Coin, another stablecoin that tracks the price of the dollar. Does not follow from the CSA's stated position: > the CSA is of the view that stablecoins, or stablecoin arrangements, may constitute securities and/or derivatives --- Why are they willing and able to have customers with USDC balances, but not USDT? Based on the CSA's position, wouldn't they want to delist all stablecoins?