Crypto asset trading platform Coinberry Ltd. has become the first pure-play registered crypto trading platform in Canada after it was granted registration across all Canadian provinces and territories.
The registration will allow Coinberry to offer Canadians crypto-based products and services on a regulated platform and help drive the industry forward, the company said.
"We have been working hard with our partners at DLA Piper to ensure that we meet the regulatory requirements that have been presented," said CEO Andrei Poliakov.
Canadians looking for regulated crypto asset platforms
"Canadians have been seeking a safe, trustworthy, and regulated platform to acquire crypto assets for far too long. We are finally thrilled to offer them one. We believe that as the Canadian crypto market continues to mature, we plan to work even closer with regulators, such that they continue to protect investors, while allowing innovation to flourish."
He said Coinberry continues to act in a fair and transparent manner by offering Canadians security, protection and a growing suite of innovative products and services in the crypto asset space.
OSC warned platforms to become compliant
Back in late March, the Ontario Securities Commission (OSC) notified crypto asset trading platforms that offer trading in derivatives or securities to bring their operations into compliance with Ontario securities law or face potential regulatory action.
At that time, the OSC gave platforms until April 19 to discuss how to bring their operations as a dealer into compliance.
The OSC said the recent explosion of unregistered crypto asset trading platforms, expose Ontario investors to significant risks.