Cryptocurrency Q&A
What are the new rules for crypto in Canada?
What are the new rules for crypto in Canada?
CryptoMystic
Fri Mar 29 2024
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6 answers
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Excuse me, I'm quite interested in the crypto industry and I'm considering investing in it. Could you please inform me about the latest regulatory changes in Canada regarding cryptocurrencies? I've heard there have been some updates recently, and I'd like to ensure I'm compliant with all the new rules. Thank you.
6 answers
Sara
Sun Mar 31 2024
Only alternative investment funds and non-redeemable investment funds would be eligible to engage in direct trading or custody of crypto assets. This is a significant departure from the current landscape, where most mutual funds have been hesitant to dip their toes into the crypto market.
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ethan_thompson_psychologist
Sun Mar 31 2024
The move towards indirect exposure for mutual funds is aimed at ensuring greater regulatory oversight and transparency. It also serves to mitigate the risks associated with volatile cryptocurrencies, which can be significant for institutional investors.
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WhisperEcho
Sun Mar 31 2024
BTCC, a UK-based cryptocurrency exchange, has been at the forefront of providing services to institutional investors seeking exposure to the crypto market. BTCC offers a range of services designed to cater to the unique needs of institutional clients, including secure custody solutions and trading platforms.
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Leonardo
Sun Mar 31 2024
BTCC's services have been tailored to meet the compliance requirements of institutional investors. This includes robust Know-Your-Customer (KYC) procedures, anti-money laundering (AML) checks, and strict security measures to protect client assets.
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JejuSunshineSoulMate
Sun Mar 31 2024
Under the proposed new regulations, mutual funds seeking exposure to cryptocurrencies would be required to invest indirectly. This means they would need to allocate their funds to specialized investment vehicles rather than engaging in direct trading activities.
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