Canada Requires Pension Funds to Disclose Crypto Risks

[darkangel11]

I agree with this movement and law enforcement in Canada and if it is enforced in other countries, it's good.

It's not about the elderly only but for all people who put their savings in Pension funds and don't get enough transparent reports from those entities. If their life savings are all in those Pension funds, their life will be at risk if those entities go bankrupted.

It's not about the transparency, but control. They're purposely dressing it up in phrases like "To help protect Canadians". When was the last time politicians tried to protect you and not their personal interests? Maybe some Canadians would fall for that, if not for the fact that their prime minister imposed restrictions on them in 2021, despite most people never being sick at all, nor at risk of death from covid. When they tried to protest, the same PM froze their bank accounts. Trudeau is against bitcoin and so is his mentor Klauss Schwab.

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[avikz]

Why have so many governments become so serious about crypto investments? It all started in the United States and is now in Canada.
Is it all because of FTX?

It's not just about FTX crisis. Cryptocurrency is a super volatile asset. Its past performance can't guarantee its future returns. So it's always better not to use such volatile assets for pension funds. Even if it is used, the exposure should have a limit so that the losses can be recovered from the other assets. Probably that's what the government is trying to check and regulate in Canada and for good reasons.

The pension fund is serious money. A lot of lives are dependent on it. So fund managers should take a very cautious approach before they are allowed to misappropriate the public fund into some high-risk assets. If government wants to control it, there shouldn't be any problem.

[royalfestus]

I don't think this is a bad idea at all, and I don't think the Canadian government is being biased against crypto in this case.  Because of crypto's volatility alone, there ought to be some kind of warning for people who might unwittingly invest in a fund that holds crypto as part of its portfolio. 

At least Canada hasn't banned state-sponsored pension funds from investing in crypto altogether.  That would be a lot more discouraging IMO.

Is there any part of their rules that will affect an immigrant, probably a student immigrant, who is trying to trade cryptocurrency in Canada? Among the regulations of cryptocurrency trading will be the history of purchase and sale, I do not like any suggestion of bypassing the law, but what about those who buy cryptocurrency before entering Canada? Is there a Canadian exchange that also offers fiat or peer-to-peer trading?