{"id":544543,"date":"2026-06-29T16:28:06","date_gmt":"2026-06-29T15:28:06","guid":{"rendered":"https:\/\/cryptoslate.com\/?post_type=crypto_law&p=544543"},"modified":"2026-06-29T16:44:41","modified_gmt":"2026-06-29T15:44:41","slug":"csa-staff-notice-21-332-crypto-asset-trading-platform-prus","status":"publish","type":"crypto_law","link":"https:\/\/cryptoslate.com\/crypto-laws\/csa-staff-notice-21-332-crypto-asset-trading-platform-prus\/","title":{"rendered":"CSA Staff Notice 21-332: Crypto Asset Trading Platform PRUs"},"content":{"rendered":"

CSA Staff Notice 21-332<\/a><\/strong> is Canadian Securities Administrators guidance for crypto asset trading platforms that continue to operate in Canada while seeking registration and related exemptive relief. Published on February 22, 2023, the notice describes enhanced pre-registration undertaking, or PRU, commitments that CSA members expected from unregistered platforms. As of June 26, 2026, it remains relevant to Canada\u2019s crypto platform registration pathway and is mapped here as active non-U.S. agency guidance.<\/p>\n

What CSA Staff Notice 21-332 Covers<\/h3>\n

The notice is not a standalone statute. It describes a change in CSA staff practice and a template-driven undertaking process. A PRU is used during the registration review period and contains commitments about how a platform will operate while its application is pending. The CSA stated that the enhanced PRU was introduced after several crypto platform insolvency events and was intended to address investor protection and level-playing-field concerns for platforms that had not yet completed registration.<\/p>\n

The guidance applies mainly to unregistered crypto asset trading platforms, or CTPs, that are operating in Canada and seeking registration and exemptive relief. Some expectations may also be relevant to registered platforms where staff review whether existing registration terms or exemptive relief should change.<\/p>\n

Key Provisions for Crypto Asset Trading Platforms<\/h3>\n

Enhanced PRU deadline and interim status<\/h4>\n

Unregistered CTPs continuing to operate in Canada were expected to provide an enhanced PRU within 30 days of publication and implement necessary systems changes within the timeframes set out in the undertaking. A filed PRU does not mean that registration or exemptive relief will be granted, and the CSA\u2019s later public pages show that PRUs may be revised, expire, be withdrawn, or be addressed alongside registration and exemptive-relief decisions.<\/p>\n

Custody, segregation, and client asset protections<\/h4>\n

The enhanced PRU adds more detailed expectations for Canadian client assets. It contemplates client cash, securities, and crypto assets being held separate from the platform\u2019s own property and, in specified cases, in trust or in designated client-benefit accounts. For crypto assets, the notice focuses on acceptable third-party custodians and gives CSA staff a path to obtain information from custodians about Canadian client accounts.<\/p>\n