Hey William,

 

We hope this message finds you well. We are writing to inform you of an 
important update to our platform services concerning two specific 
cryptocurrencies.
 
Effective December 28th, 2023, in compliance with the Canadian 
Securities Administrators (CSA) Staff Notice 21-333, Coinsquare will be 
suspending the support for deposits and purchases of WBTC (Wrapped 
Bitcoin) and DAI. This is in response to regulatory guidelines 
restricting Crypto Trading Platforms (CTPs) in Canada from facilitating 
the purchase or deposit of Value-Referenced Crypto Assets (VRCAs), 
commonly known as “stablecoins”.
 
Please note that while purchases and deposits of these tokens will be 
halted, you will retain the ability to sell or withdraw WBTC and DAI 
from your Coinsquare account.
 
We understand this change may come as an inconvenience, and we want to 
assure you that we are taking all necessary steps to align with the new 
regulatory requirements without disrupting your experience. Furthermore, 
post-December 28th, as Canadian CTPs adhere to these updated rules, 
there may be challenges in liquidating VRCAs not already held on a 
platform due to restrictions on deposits. It's important to clarify, 
however, that there is no obligation to sell your VRCAs if you choose to 
keep them.
 
Should you have any VRCAs you wish to transact with before the 
stipulated date, we encourage you to plan accordingly. For more 
information on how these changes may affect you, please refer to the 
official CSA Staff Notice.
 
Thank you for your continued trust in Coinsquare.