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Coinbase Canada CEO calls for clearer rules to expand crypto products
Eric Richmond says Canada has relied more on exemptions and staff notices than digital-asset legislation, slowing access to areas like broader futures trading and lending for retail users.
CoinDesk reports that Coinbase’s newly appointed Canadian CEO, Eric Richmond, says Canada needs to move beyond temporary exemptions toward a more harmonized national regulatory framework for digital assets before the exchange can roll out a wider menu of crypto products.
Richmond said Coinbase wants to bring to Canada advanced offerings similar to those available to customers in the United States, including derivatives, decentralized finance services and tokenized assets. He framed the goal as building an “everything exchange” that supports financial services on a blockchain-based foundation, operating 24/7.
According to CoinDesk, Richmond argued that Canada’s progress to date, including early approval for spot crypto exchange traded funds and a Stablecoin Act, has been enabled more by regulatory staff notices and company specific exemption orders than by legislation specifically designed for digital assets. He said that approach has contributed to fragmented guidance compared with the U.S., delaying access to products such as higher yield lending and broader futures trading for Canadian retail investors.