Regulated Crypto Exchanges in Canada: What You Need To Know

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The cryptocurrency landscape in Canada is evolving rapidly, shaped by increasing regulatory oversight from the Canadian Securities Administrators (CSA). As digital assets gain mainstream traction, regulators are prioritizing investor protection, requiring crypto trading platforms to meet strict compliance standards.

In recent months, the CSA has issued enhanced guidelines for crypto asset trading platforms (CTPs), mandating that unregistered exchanges either comply with new investor safeguards or exit the Canadian market. This shift has led to significant changes in which platforms are legally allowed to operate—making it essential for Canadian investors to understand which exchanges are regulated and compliant.

Understanding Crypto Regulation in Canada

The Canadian Securities Administrators (CSA), a council of provincial and territorial securities regulators, oversees crypto trading platforms to ensure they meet financial integrity, security, and transparency standards. Platforms must register as Restricted Dealers and operate as FINTRAC-registered Money Service Businesses (MSBs) to legally serve Canadian users.

To continue operations while working toward full registration, many platforms have entered into a Pre-Registration Undertaking with their principal regulator—typically the Ontario Securities Commission (OSC). This commitment includes enhanced disclosure, risk warnings, and custody safeguards for user assets.

👉 Discover how compliant crypto platforms protect your investments today.

Platforms that fail to meet these requirements face restrictions or complete bans. For example, KuCoin and Poloniex are officially banned in Canada, while major international exchanges like Binance, Bybit, and OKX have voluntarily withdrawn due to regulatory pressure.

Fully Registered Crypto Exchanges in Canada

These platforms are fully registered with provincial securities regulators and FINTRAC, offering Canadians a secure and compliant way to buy, sell, and trade digital assets.

Bitbuy

Established in 2016, Bitbuy is one of Canada’s most trusted regulated crypto exchanges. It operates as a registered restricted dealer and FINTRAC-licensed MSB, approved by the OSC and CSA.

Bitbuy supports over 35 cryptocurrencies, with a minimum investment of just $50. It offers two trading interfaces:

The platform emphasizes security and ease of use, making it ideal for both beginners and experienced traders.

VirgoCX

Based in Toronto, VirgoCX is a CSA-approved restricted dealer and FINTRAC-registered MSB. It complies with PIPEDA (Canada’s privacy law), ensuring user data protection.

With support for over 60 cryptocurrencies, VirgoCX offers competitive trading fees ranging from 0.5% to 2.5%, depending on the asset tier. Its transparent fee structure and strong compliance focus make it a reliable choice for Canadian investors.

Shakepay

Shakepay is a commission-free platform registered with the Autorité des Marchés Financiers (AMF) and all provincial securities regulators. It’s also licensed by FINTRAC and Revenu Québec.

While it only supports Bitcoin and Ethereum, Shakepay is known for its user-friendly mobile app and fast transaction processing. Instead of charging direct fees, it applies a bid-ask spread of 1% to 3%, with free withdrawals.

Wealthsimple Crypto

Offered by Wealthsimple Digital Assets Inc. (WDA), this platform operates under time-limited registration via the CSA’s Regulatory Sandbox while pursuing full compliance.

Wealthsimple Crypto provides an intuitive interface for buying, selling, and staking over 50 cryptocurrencies. It charges a flat 2% all-in fee via bid-ask spread—ideal for long-term investors seeking simplicity over advanced trading tools.

Newton

Newton is a fully registered restricted dealer with the OSC and a FINTRAC-licensed MSB active across Canada. It supports over 70 digital assets and applies built-in spread fees between 1% and 2.5%.

Newton is known for its transparency, zero hidden fees, and strong security protocols. It’s a top choice for users who value regulatory compliance and asset diversity.

CoinSmart (Now Part of Bitbuy)

Previously an independent exchange listed on the NEO exchange, CoinSmart was acquired by Bitbuy. It remains a symbol of Canadian-built compliance, operating as a registered restricted dealer across all provinces.

It offered 16 major cryptocurrencies with low flat fees:

While now integrated into Bitbuy, CoinSmart’s legacy reflects the importance of regulatory adherence in building trust.

Netcoins

Owned by BIGG Digital, Netcoins is a publicly traded, regulated platform operating as a CSA-approved restricted dealer and FINTRAC-registered MSB. It’s registered across all provinces and territories.

Netcoins uses a flat trading fee model combined with an undisclosed bid-ask spread. Its public status adds an extra layer of accountability, appealing to investors who prioritize transparency.

Pre-Registered Platforms Operating Under Exemptive Relief

Several global platforms have committed to the CSA’s Pre-Registration Undertaking, allowing them to operate temporarily while their applications are reviewed. These include:

These platforms are not yet fully registered but have agreed to enhanced investor protections—such as prohibiting interest-bearing accounts and implementing clear risk disclosures—making them legally permissible for Canadian users.

👉 Learn how top-tier platforms maintain compliance without compromising access.

Banned and Exited Crypto Exchanges

The CSA maintains a public list of prohibited platforms. Currently, two exchanges are officially banned:

Additionally, several platforms have exited Canada voluntarily:

These exits highlight the challenges global exchanges face when adapting to Canada’s rigorous regulatory framework.

Frequently Asked Questions (FAQs)

Are there any regulated crypto exchanges in Canada?
Yes, several platforms—including Bitbuy, Newton, VirgoCX, and Shakepay—are fully registered with provincial regulators and FINTRAC.

Is Kraken regulated in Canada?
Kraken is not yet fully registered but operates under a Pre-Registration Undertaking with the OSC, allowing it to serve Canadian users legally.

Can Canadians use Coinbase?
Yes, Coinbase is permitted in Canada after committing to the CSA’s Pre-Registration Undertaking.

What happens if I use a banned exchange like KuCoin?
Using banned platforms may expose you to legal risks and lack investor protections such as insurance or dispute resolution.

How do I verify if a crypto exchange is regulated?
Check the CSA’s official list of registered and pre-registered platforms at securities-administrators.ca.

Why did Binance leave Canada?
Binance cited the CSA’s stringent investor protection rules as incompatible with its business model, leading to its voluntary exit.

👉 Stay ahead of regulatory changes with real-time updates from compliant platforms.

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Staying informed about regulatory status helps Canadian investors avoid risks and choose secure, compliant platforms. As the crypto market matures, regulation will continue to shape which services are available—and which ones offer lasting value.