APX Lending gains exemptive relief from Canadian Securities Administration
The Canadian Securities Administration granted exemptive relief to APX following a collaborative initiative with the Ontario Securities Commission.
APX Lending, a crypto-backed loan company, has gained exemptive relief from the Canadian Securities Administration (CSA) to offer crypto-backed loans without requiring traditional dealer registration or prospectus filings.
“Over the last 2 years, APX developed a […] regulatory framework in collaboration with the Ontario Securities Commission (OSC) to facilitate this, as no such framework previously existed in Canada,” a spokesperson for APX told Cointelegraph. “This exemption is specific to APX and does not establish a precedent for other companies.”
The platform currently supports Bitcoin (BTC) and Ether (ETH) as backing collateral for loans in Canadian or US dollars. APX plans to add more digital assets and fiat currencies options in the near future.
