Canadian Securities Administrators Extend Crypto Exchange Compliance Deadline to End of 2024 Due to Stablecoin Risk Factors

Canada's securities regulator has extended the compliance deadline for crypto trading platforms, pushing it back to the end of 2024. Prior to this, there have been concerns about the risks of stablecoins pegged to fiat currencies, and the Canadian Securities Administrators (CSA) has made investor protection a priority. The new deadline was originally set for October, giving exchanges more time to meet regulatory requirements or come up with safer alternatives. If these platforms fail to comply by the end of the year, they may face penalties, including being banned from offering certain products to Canadian users. In the past few years, Binance, KuCoin and Poloniex have been forced to withdraw from Canada, while exchanges such as Kraken, Coinbase and Bitget continue to operate. (DL News)