Coinsquare, a Toronto-based cryptocurrency exchange, became the first crypto-native platform to join Canada’s top self-regulatory organization (SRO), the Investment Industry Regulatory Organization of Canada (IIROC), on Thursday. In addition to granting Coinsquare membership, IIROC approved the exchange’s investment dealer registration and future operation as a regulated alternative trading system (ATS). Coinsquare is the first exchange to join IIROC, but it will not be the last. The Canadian Securities Administrators issued a public notice in March 2021 informing crypto exchanges that they needed to register with a securities regulator in order to continue serving Canadian customers, causing a rush to comply with regulatory requirements.
