Cryptoasset trading platforms
Some platforms that facilitate the trading of cryptoassets must comply with securities legislation. These platforms must be registered with the AMF as dealersA dealer (or broker) is a professional who manages the transaction between the client and a financial institution, insurance company or stock exchange.
For example, the dealer conducts the stock exchange transaction to buy or sell on behalf of the client.
In damage insurance, a broker may offer the products of several insurers while an agent sells the products of a single insurance company. .
In order to provide Québec investors with the opportunity to buy and sell cryptoassets, the platforms must meet requirements regarding their operations, internal controls and the disclosures provided to clients.
Transactions involving crypto assets are not covered by Deposit protection.
End of the warningPlatforms registered with the AMF
| Plateform name | Company name | Website |
|---|---|---|
Bitbuy | Bitbuy Technologies Inc. | bitbuy.ca |
Coinbase | Coinbase Canada | coinbase.com |
Coinberry | Coinberry Limited | coinberry.com |
Coinsquare | Coinsquare Capital Markets Ltd. | coinsquare.com |
Fidelity Digital Assets | Fidelity Clearing Canada ULC | fidelitydigitalassets.com |
Hibit | Hibit Technology Ltd. | hibit.com |
Netcoins | Netcoins Inc. | netcoins.ca |
Newton | Newton Crypto Ltd. | newton.co |
Shakepay | Shakepay Inc. | shakepay.com |
VirgoCX | VirgoCX Inc. | virgocx.ca |
Wealthsimple | Wealthsimple Investments Inc. | wealthsimple.com |
Registration process
Before being registered
A platform must go through a registration process in the course of which the AMF analyzes the registration application based on registration suitability criteria, including competence, integrity and solvency. These requirements are intended to mitigate risks for investors, particularly regarding fraud.
During this process
The platform must file a pre-registration undertaking whereby it agrees to comply with current laws and regulations. The terms and conditions with which the platform agrees to comply are generally intended to better protect investors. However, signing this undertaking during the review period does not mean that the platform is registered with the AMF.
Once registered
The platform is subject to random inspections of its activities by the AMF or another Canadian securities regulator, which ensures that the platform complies with the applicable legal and regulatory requirements.
A platform’s registration as a dealer does not eliminate the risks and volatility related to cryptoassets.
End of the warningPlatforms having filed a pre-registration undertaking
Platform name | Pre-Registration Undertaking (PRU) | PRU signing date |
|---|---|---|
ByteX Financial Ltd. et al, operating as ByteX | PRU (on the CSA’s website) | March 24, 2023 |
Foris DAX, Inc., operating as Crypto.com | PRU (on the CSA’s website) | August 3, 2022 |
DigiFinex Canada Limited et al, operating as DigiFinex | PRU (on the CSA’s website) | March 24, 2023 |
Gemini Trust Company, LLC et al, operating as Gemini | PRU (on the CSA’s website) | March 24, 2023 |
Payward Canada Inc. et al, operating as Kraken | PRU (on the CSA’s website) | March 24, 2023 |
NDAX Canada Inc., operating as NDAX | PRU (on the CSA’s website) | March 24, 2023 |
Satstreet Inc. | PRU (on the CSA’s website) | March 24, 2023 |
Uphold Worldwide Ltd. et al, operating as Uphold | PRU (on the CSA’s website) | March 27, 2023 |
Visit: Canadian Securities Administrators (CSA) 
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