Registered Crypto Asset Trading Platforms

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In the rapidly evolving digital economy, crypto asset trading platforms have become central to how investors access and manage digital currencies. However, with innovation comes responsibility—regulators across Canada are ensuring that platforms offering crypto products meet stringent legal and operational standards. This guide explores the current landscape of registered crypto asset trading platforms, focusing on compliance, regulatory oversight, and what it means for investors in New Brunswick and beyond.

Understanding Regulatory Oversight

Crypto asset trading platforms that hold digital assets on behalf of clients are subject to securities legislation. To operate legally in New Brunswick, these platforms must be registered with the Financial and Consumer Services Commission (FCNB) or have received exemptive relief. Registration ensures that platforms adhere to requirements covering:

Once registered, platforms are bound by specific terms and conditions outlined in official exemptive relief decisions. These documents are publicly accessible and provide insight into a platform’s compliance status and regulatory obligations.

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Registered Crypto Trading Platforms in New Brunswick

The following platforms have been granted exemptive relief and are authorized to offer crypto-related products to investors in New Brunswick. Each entry reflects the most recent regulatory decision, including registration category and effective date.

Investment Dealers (Full-Service Compliance)

These platforms meet higher-tier regulatory standards, often serving both retail and institutional clients.

Restricted Dealers (Retail-Focused Platforms)

These platforms serve primarily individual investors and operate under defined limitations.

Note: Some previously registered entities like Bitbuy, Bitvo, Coinberry, and CoinSmart are no longer active under their original status due to acquisitions by larger firms such as Coinsquare.

Exempt Market Entities

Certain platforms operate under alternative frameworks tailored for specialized services.

Pre-Registration Undertaking Platforms

Some crypto platforms are currently operating under a pre-registration undertaking, allowing them to continue business while their full registration applications are under review. These undertakings signal a commitment to compliance but do not equate to full registration.

Platforms under pre-registration include:

While these platforms remain active during review, investors should exercise caution and verify ongoing compliance through official sources.

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Banned Platforms: What Investors Should Know

Regulatory bodies have taken decisive action against non-compliant platforms operating in Canada. The following platforms are banned in one or more Canadian jurisdictions due to failure to meet legal requirements:

These bans are reciprocated across multiple provinces and territories, reinforcing national efforts to protect investors from unregulated entities.

Unregistered platforms found operating in New Brunswick may be added to the FCNB’s Caution List and face enforcement actions, including temporary trading suspensions.

Compliance Beyond Registration

Registration is not a one-time achievement—it's an ongoing obligation. The FCNB actively monitors both registered and unregistered platforms for adherence to securities laws, particularly in areas like:

Misleading claims or aggressive promotional tactics can trigger fitness assessments for platform principals and may lead to suspension or revocation of registration.

For guidance, regulators have issued Joint CSA-IIROC Staff Notice 21-330, which outlines expectations for truthful advertising and responsible social media use by crypto platforms.

Frequently Asked Questions (FAQ)

Q: What does it mean for a crypto platform to be “registered”?

A: Registration means the platform has met regulatory standards set by provincial securities authorities, including financial integrity, cybersecurity measures, and investor protection protocols.

Q: Are all crypto platforms in Canada required to register?

A: Yes, if they hold client assets or facilitate trades for residents of regulated provinces like New Brunswick, they must be registered or have valid exemptive relief.

Q: Can I trust a platform under a pre-registration undertaking?

A: While these platforms are cooperating with regulators, they are not fully registered. Exercise due diligence and monitor their progress toward full compliance.

Q: How can I check if a platform is banned or on the caution list?

A: Visit the FCNB’s official website or consult the Canadian Securities Administrators’ public alerts for up-to-date information.

Q: Why were some platforms like Bitbuy listed twice?

A: Coinsquare acquired Bitbuy and now operates under a new registration as an Investment Dealer, while the original Restricted Dealer status expired.

Q: Does registration guarantee my funds are safe?

A: Registration reduces risk by enforcing accountability, but it doesn’t eliminate market volatility or guarantee returns. Always practice secure investing habits.

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Final Thoughts

As the crypto market matures, regulatory clarity is becoming a cornerstone of investor confidence. Choosing a registered crypto asset trading platform ensures you're engaging with a service that meets legal standards for transparency, security, and operational soundness.

Whether you're new to digital assets or expanding your portfolio, always verify a platform’s registration status before depositing funds. Stay informed, stay compliant, and trade with confidence in a regulated ecosystem.

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