Insiders: Canada will tighten requirements for cryptocurrency exchanges in the country, which may lead to increased costs for doing business locally

ChainCatcher news, according to CoinDesk, two informed sources revealed that later this month, the Canadian Securities Administrators (CSA) will tighten the requirements for cryptocurrency exchanges operating in the country. The CSA declined to discuss modifications to the Pre-Registration Undertaking (PRU) system but stated that it would "announce more details in the near future."

An anonymous source indicated that this update to the system is primarily driven by the Ontario Securities Commission, which will lead to increased costs for doing business in Canada. The CSA's strengthened regulation of crypto trading platforms will impact some large exchanges operating in the country. Binance Canada has previously had disputes with the OSC, while Coinbase operates under the regulation of the Autorité des marchés financiers (AMF) in Quebec. (source link)