Annual review highlights oversized attention focused on crypto risks
Cryptocurrencies are a major focus for Canada’s capital markets regulators, as detailed in a new report from the Canadian Securities Administrators.
Guided by the blueprint laid out in its 2022-2025 Business Plan, the CSA has made progress across all six strategic goals according to its newly released 2024-2025 Year in Review.
The report highlights the issuance of 1,011 investor alerts, cautions and warnings in the year, with over 75% related to crypto assets, signaling the CSA’s commitment to staying vigilant in the most volatile corners of the market.
Thanks to investor education efforts like “Check Registration” and “Spot the Red Flags of Fraud,” its outreach reached over 4.5 million Canadians, while the enforcement arm flexed its muscles with 54 permanent bans issued against individuals and companies, and 20 crypto-related enforcement actions taken to protect market integrity.
On the regulatory front, 57 publications were rolled out, covering everything from rule changes to consultations and orders.
While the Year in Review doesn’t restate every initiative, its accomplishments clearly reflect the Plan’s trajectory—whether that’s ramping up investor outreach, enhancing enforcement mechanisms, or advancing technology-driven transparency.
“The progress we made in the past year, as outlined in our Year in Review, is a testament to CSA members’ collaboration to strengthen Canada’s capital markets and introduce measures to boost competitiveness,” said Stan Magidson, CSA Chair and Chair and CEO of the Alberta Securities Commission. “We’ve demonstrated that effective regulation can be both principled and adaptable to changing geopolitical and market conditions.”
In June, the CSA released its 2025–2028 Business Plan, identifying top priorities for the three year period including tackling systemic risks, supporting regulatory clarity, and improving investor confidence. AI and crypto were identified as key risks.
