Bitcoin and crypto regulations often sound in favor of crypto enthusiasts and investors but that is not always the case. Recently, cryptocurrency exchange Kraken outlined flaws in the regulations proposed by the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC). Kraken went ahead and suggested amendments to the proposed Canadian framework by publishing a document that covers all the necessary aspects of crypto dealings overlooked by CSA and IIROC.





CSA and IIROC issued a consultation paper that explained the proposed regulations and asked exchanges for their feedback on it. Replying to the proposed solution, Kraken appreciated regulators for clarifying when crypto assets acted as securities and when they were considered as a mode of payment. However, Kraken suggested that cryptocurrency exchanges should not be regulated under the framework applicable to securities or derivatives.

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