Canada's regulators offer guidance on crypto advertising and marketing

The joint guidance published by the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) should provide more clarity for crypto. Principal requirements with respect to advertising, marketing, social media activities, fee disclosure and other compliance matters for crypto-trading platforms under Canadian securities legislation are set out in the guidance, with examples of statements that could be considered false or misleading.

Advertising and marketing activities may be reviewed by the CSA as part of the registration review process and following registration as part of a compliance review. The CSA may take enforcement action, including against foreign-based crypto-trading platforms with investors in Canada that do not comply with Canadian securities legislation.