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 |
|---|---|---|
| Coinbase | Coinbase Canada | coinbase.com |
| Coinsquare | Coinsquare Capital Markets Ltd. | coinsquare.com |
| Fidelity Digital Assets | Fidelity Clearing Canada ULC | fidelitydigitalassets.com |
| Crypto.com | Foris DAX CAN ULC, Foris DAX Limited and Foris Holdings US, Inc. (operating as Crypto.com) | crypto.com |
| NDAX | NDAX Canada Inc. | ndax.io |
| Kraken | Payward Canada Inc. | kraken.com |
| Netcoins | Netcoins Inc. | netcoins.com |
| Newton | Newton Crypto Ltd. | newton.co |
| Shakepay | Shakepay Inc. | shakepay.com |
| 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 |
|---|---|---|
| DigiFinex Canada Limited et al, operating as DigiFinex DigiFinex has submitted an application for registration as a restricted dealer, which is currently under review by the CSA. | PRU (on the CSA’s website) | March 24, 2023 |
Visit: Canadian Securities Administrators (CSA) 
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