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Registered Crypto Asset Trading Platforms

Crypto asset trading platforms that hold cryptocurrencies on behalf of their clients are subject to securities legislation and must be registered with FCNB.

To be registered, crypto asset trading platforms must meet requirements regarding their operations, internal controls and client disclosure documents. Registered crypto asset trading platforms are subject to terms and conditions, which can be viewed in the individual exemptive relief decisions linked in the chart below.

Registered Platforms

The following crypto asset trading platforms have received exemptive relief and are registered to offer crypto products to investors in New Brunswick.

Name of Platform Category of Registration Date of Exemptive Relief (Most recent decision by Principal Regulator)*
Bitbuy Technologies Inc. (Bitbuy) Restricted Dealer (Dealer and Marketplace) November 30, 2023
Bitvo Inc. Restricted Dealer (Dealer) April 25, 2022
Coinbase Canada, Inc. Restricted Dealer (Dealer) April 3, 2024
Coinberry Limited (Coinberry) Restricted Dealer (Dealer) August 19, 2021
[Expired – business acquired by Bitbuy]
Coinsquare Capital Markets Limited Investment Dealer (Dealer and Marketplace) October 12, 2022
Fidelity Clearing Canada ULC (Fidelity Digital Assets) Investment Dealer (Dealer) April 18, 2022
Fidelity Digital Assets Services Exempt Marketplace and Clearing Agency January 18, 2023
Hibit Technology Ltd. Restricted Dealer (Dealer) September 14, 2023
Netcoins Inc. (Netcoins) Restricted Dealer (Dealer) October 6, 2023
Newton Crypto Ltd. Restricted Dealer (Dealer) March 8, 2024
Shakepay Inc. et al operating as Shakepay Restricted Dealer (Dealer) May 25, 2023
Simply Digital Technologies Inc. (carrying on business as CoinSmart) Restricted Dealer (Dealer and Marketplace) December 21, 2021
[Expired – business acquired by Bitbuy]
VirgoCX Restricted Dealer (Dealer) May 30, 2022
Wealthsimple Digital Assets Inc. (Weathsimple) Restricted Dealer (Dealer) June 23, 2023
[expires January 1, 2024]
Wealthsimple Investments Inc. Investment Dealer (Dealer) December 18, 2023
[effective January 1, 2024]

Pre-Registration Undertaking Platforms

The following crypto asset trading platforms have entered into a pre-registration undertaking with their principal regulator to continue operations while their application for registration is reviewed.

Name Date of pre-registration undertaking accepted by Principal Regulator*
ByteX Financial Ltd. et al operating as ByteX March 24, 2023
Foris DAX, Inc. operating as August 3, 2022
DigiFinex Canada Limited et al operating as DigiFinex March 24, 2023
Gemini Trust Company, LLC et al operating as Gemini March 24, 2023
Payward Canada Inc. et al operating as Kraken March 24, 2023
NDAX Canada Inc. operating as NDAX March 24, 2023
Satstreet Inc. March 24, 2023
Uphold Worldwide Ltd. et al operating as Uphold March 27, 2023

Unregistered platforms operating in New Brunswick that are non-compliant may be included on FCNB’s Caution List and subject to regulatory action, including temporary orders.

Banned Platforms

The following crypto asset trading platforms have been banned in one or more Canadian jurisdiction.

Name Date of decision (Reciprocated in other provinces/territories)*
Mek Global Limited, incorporated in the Republic of Seychelles
PhoenicFin Pte. Ltd., incorporated in Singapore
21 June 2022
Polo Digital Asset, Ltd. incorporated in the Republic of Seychelles
27 October 2022

FCNB may review registered and unregistered platforms for their compliance with securities law requirements, including in relation to advertising and marketing. False or misleading advertising and improper marketing strategies are a consideration in determining the fitness of a firm and its principals for registration. For recent guidance, see Joint CSA-IIROC Staff Notice 21-330 Guidance for Crypto-Trading Platforms - Requirements relating to Advertising, Marketing and Social Media Use.

*Note: Decisions are prepared by the principal regulator and may not be available in both official languages.