Cryptocurrency regulations in Canada – Japan Security Token Business Association  
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Cryptocurrency regulations in Canada

Contents

1 Cryptocurrency regulations in Canada
2 Government’s attitude towards STO
3 CSA
4 Reference

1 Cryptocurrency regulations in Canada

 In Canada, cryptocurrency isn’t regarded as a legal tender, but transaction is legal. However, unlike the United States, there isn’t a government agency that regulates the industry.
As such, regulations vary by provinces. Each regulating organization cooperate with each other through the Canadian Securities Administrator (CSA).。

2 Government’s attitude towards STO

Cryptocurrencies are subjected to taxation and laws such as the “anti-criminal revenue and terrorism financing act” (2014) as the legal tender.
Under those regulations, the country has been taking proactive actions. Cryptocurrencies are treated as securities. Since many cryptocurrency traders have been defrauded 40 Canadian and American regulation agencies, led by the North American Security Administrators Association, conducted the Operation Crypto-Sweep in May, 2018.
In the June of the same year, the “anti-criminal revenue and terrorism financing act” was amended and reporting requirement of cryptocurrency was added to the act.る

3 CSA

In addition to money laundering and terrorism, ICO are recently being monitored by securities regulating agencies. Any financial product that has a feature as a security will be treated as such. The country eliminates fraudulent ICOs while supporting legal ones.

4 References

Cryptocurrency regulations in Canada
Cryptocurrency laws in Canada
Cryptocurrency information

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