Borders blur in the regulation of digital assets
June 30, 2022
Once a far-off concept, digital assets, including cryptocurrency, have grown dramatically, achieving over US$3 trillion in value last November with no signs of slowing. Extraterritorial application of foreign laws is an emerging concern as cryptocurrency regulations take shape in other countries, notably the United States. While cryptocurrency regulations have yet to develop in Canada, Canadian trading entities need to consider the risks arising from foreign agencies enforcing their own rules extraterritorially.