The Canadian Securities Administrators, or CSA, and Investment Industry Regulatory Organization of Canada, or IIROC, have issued guidelines for crypto trading platforms operating in the country to avoid “advertising and marketing materials that could mislead investors.”
In a Thursday publication, the Canadian regulators’ guidelines warn crypto companies not to advertise “gambling style” promotions in which an investor is encouraged to sign up within a given time limit to take advantage of a reward or opportunity. Though the guidance was seemingly vague on restrictions concerning social media posts, the regulators recommended trading platforms designate an individual to review and approve communications and set up a system to ensure all messages are in compliance with regulatory guidelines.
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