Seeking to protect users from buying more assets than their financial positions can handle, one Canadian exchange has limited annual limits, with BTC and ETH exempted.
The Canadian Securities Administrators says that digital asset trading platforms are expected to file a "pre-registration undertaking" while their license application is under review.
The new guidance also aims to swipe so-called “gambling style” promotions used by some digital currency exchanges, which it says are responsible for unwise investment behaviors.
Seychelles-based Poloniex is accused of trading securities without registering with the Canadian Securities Administrators as required by the Ontario Securities Act.
Two Canadian regulatory agencies published the proposals to delineate where existing securities legislation applies to the activities of digital currency businesses.
If an exchange isn’t sending you your crypto immediately, then securities laws apply, affording you all the protections that come with it.