Whether cryptocurrencies are regulated depends on their specific characteristics. Bitcoin for example, is not regulated.
Crypto assets that are securities or derivatives and crypto-related products like Bitcoin ETFs and crypto trading services, like crypto asset trading platforms, may be regulated by provincial or territorial securities regulators if they are sold or marketed by or to Canadians.
Canadian securities regulators have issued guidance to assist companies and set expectations on the types of products and services that may be considered securities or require regulatory oversight.
Guidance has also been provided on the requirement to be registered under securities laws for entities that offer crypto assets and crypto-related products. In particular, crypto asset trading platforms are generally expected to be registered as investment dealers and be members of the Investment Industry Regulatory Organization of Canada (IIROC).
However, the Canadian Securities Administrators (CSA) has permitted crypto asset trading platforms to register for a time limited period as a restricted dealer while they prepare for and work through the process to be an IIROC investment dealer.