Platforms have 30 days to submit an agreement to follow certain rules—including a prohibition on offering stablecoins or proprietary exchange tokens without the regulator’s consent—while they pursue full registration. (The Logic)

Talking point: The Canadian Securities Administrators, the umbrella group for the country’s securities commissions, signalled their intent to do this in December. The move came one month after the collapse of FTX brought increased scrutiny on offshore crypto platforms operating in Canada and two months after Canadian crypto platforms pushed for more enforcement of their unregistered competitors in a meeting with regulators. In an interview with The Logic, Matthew Burgoyne, a lawyer at Osler, Hoskin & Harcourt in Calgary who represents some of the international platforms seeking registration in Canada, said the CSA is “putting up a warning sign” to platforms that haven’t started the registration process. In August, the group announced platforms must provide pre-registration undertakings in order to continue operating in Canada, but to date, Singapore-based Crypto.com is the only platform to submit one.