A cryptocurrency exchange has recently achieved a new registration in Canada, marking an important compliance milestone.
The exchange has obtained a restricted dealer registration in Canada, highlighting its dedication to supporting Canadian investors, as stated in an announcement made on April 2.
This registration comes as the platform currently manages assets exceeding $2 billion in Canadian dollars (about $1.4 billion) for its users in Canada.
Along with this registration, the exchange also revealed the appointment of Cynthia Del Pozo as the new general manager for North America. Prior to her role at the exchange, Del Pozo was the head of strategy at another prominent exchange that exited the Canadian market in late 2024.
Restricted dealer registration entails certain stipulations
According to the Canadian Securities Administrators, restricted dealer registration is one of eight types of firm registration available in Canada, outlining the products and services that can be offered to investors.
This special registration differs from that of investment dealers or investment fund managers, catering to firms that “do not fit neatly into any other category,” and it comes with specific requirements set by securities regulators.
An excerpt from the CSA’s explanation of firm and individual registration types.
The exchange noted in its announcement that this registration allows its Canadian clients to benefit from a robust regulatory framework, ensuring oversight from the Ontario Securities Commission.
Competitor departs Canada at the end of 2024
The exchange’s renewed focus on the Canadian market follows the unexpected departure of a competitor at the close of 2024.
This sudden exit raised concerns about the clarity of cryptocurrency regulatory policies within the country.
Cynthia Del Pozo, the new general manager, brings three years of experience from her time at the competitor, where she most recently held the position of head of strategy and corporate development, as indicated in her LinkedIn profile.
An excerpt from Cynthia Del Pozo’s LinkedIn profile.
Despite the competitor’s withdrawal from Canada, Del Pozo remains optimistic about the local cryptocurrency market.
“Canada is at a pivotal moment for crypto adoption, with an increasing number of investors and institutions acknowledging digital assets as a crucial part of the financial landscape,” she stated in the announcement, adding:
“I’m excited to join the mission at such a critical time and to lead our expansion efforts, ensuring that we continue delivering innovative and compliant products to our clients in the long term,” said Cynthia Del Pozo, General Manager for North America.
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