Canadian SEC: Stable coins are securities

[Pekelo]

Crypto.com Canada is delisting USDT at the end of January. New regulations:


"As a result of this ongoing work, the CSA is of the view that stablecoins, or stablecoin arrangements, may constitute securities and/or derivatives. Crypto trading platforms that are registered or that have entered into a pre-registration undertaking are reminded that they are prohibited from permitting Canadian clients to trade, or obtain exposure to, any crypto asset that is itself a security and/or a derivative."

https://www.osc.ca/en/news-events/news/csa-provides-update-crypto-trading-platforms-operating-canada

 

[The_Krakenite]

What is really sad is that Tether isn't being eliminated by the markets, despite all of its faults. It actually has to take government intervention. lol Once again, EMH is destroyed by real market results.

This thing should have never got to the size it has.

 

[Pekelo]

https://www.theblock.co/post/201805...offering?utm_source=twitter&utm_medium=social

• The SEC charged both Gemini and Genesis with unregistered offering and sale of securities to retail investors, some of who were in the U.S.
• This comes amidst a public fight between the leadership of the two companies, which already ended their partnership on the program under scrutiny.

 

[The_Krakenite]

And yet, Bitcoin is still on the rise today. Very close to $20K now, despite the horrible markets and all the contagion swirling around the dominoes...