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Canadian Securities Administrators Confirm Trust in Regulated Crypto Futures Market

The Canadian Securities Administrators (CSA) has expressed confidence in the regulated futures market for cryptocurrency, citing its ability to promote greater price discovery. The CSA has issued guidance to help fund managers comply with legal requirements for investment funds holding crypto assets, emphasizing the importance of ETFs in hedging against price fluctuations. The CSA has named the markets for Bitcoin and Ether as providing the best support for public crypto asset funds without compromising investor protection, while also placing restrictions on the proportion of illiquid assets in the funds. The regulator expects investment funds to determine whether or not the crypto assets they propose to invest in are securities or derivatives, and has outlined minimum expectations for crypto asset custody, including primary storage in cold wallets and segregation of assets.

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