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  • Crypto-asset Listing Policy

    • CRA-4.3.6

      Licensees must establish and adopt a board approved crypto-asset listing policy in accordance with the framework stipulated in this Section.

      Added: April 2023

    • CRA-4.3.7

      Licensees must, prior to commencement of business operations, provide a copy of the crypto-asset listing policy to the CBB. Unless the CBB raises specific concerns with respect to the board approved crypto-asset listing policy, licensees may implement the policy and self-certify crypto-assets for listing on its platform.

      Added: April 2023

    • CRA-4.3.8

      Prior to listing a crypto-asset, a licensee must notify the CBB of its intent to list the crypto-asset, provide the findings of the risk assessment undertaken in accordance with Paragraph CRA- 4.3.14 along with the board resolution approving the crypto-asset. The licensee must confirm in its notification to CBB that the proposed new crypto-asset complies with the requirements of its crypto-asset listing policy.

      Added: April 2023

    • CRA-4.3.9

      Licensees must provide a list of all the crypto-assets listed on its platform no later than 10 days from the end of each quarter.

      Added: April 2023

    • CRA-4.3.10

      The crypto-asset listing policy referred to in Paragraph CRA-4.3.6 must include robust procedures that comprehensively address all steps involved in the review and approval of crypto-assets. Licensees must have necessary monitoring capability (e.g. via monitoring systems, internal monitoring control, on-chain analysis etc.) in place before listing of the crypto-asset on its platform.

      Added: April 2023

    • CRA-4.3.11

      The crypto-asset listing policy should help establish a mechanism for approval of a crypto-asset only if the licensee unambiguously concludes that the listing and trading of the crypto-asset is consistent with the CBB’s approach to establish a fair, transparent and orderly crypto-asset market, complies with applicable laws, rules and regulations and is not detrimental to the interest of the market or client.

      Added: April 2023

    • CRA-4.3.12

      Licensees must not list crypto-assets that facilitate or may facilitate the obfuscation or concealment of the identity of a client or counterparty or crypto-assets that are designed to, or substantially used to circumvent laws and regulations. Licensees must ensure that they only list crypto-assets to which they have in place the necessary AML monitoring capabilities.

      Added: April 2023

    • CRA-4.3.13

      Licensees must ensure that:

      (a) Decisions to approve or disapprove each new crypto-asset is taken in accordance with the crypto-asset listing policy;
      (b) Any actual or potential conflicts of interest in connection with the review and decision-making process have been assessed and effectively addressed, whether such actual or potential conflicts of interest are related to the licensee’s board members, shareholders employees, their families, or any other party;
      (c) Records are readily available for the CBB’s review, of the crypto-asset listing policy’s application to each crypto-asset. This includes the final approval for listing of a crypto-asset, the documents reviewed including an assessment of all associated material risks in connection with each crypto-asset approval or disapproval, such as reviews and sign-offs by various departments of the licensee, such as the legal, compliance, cybersecurity, and operations department etc.;
      (d) The crypto-asset listing policy is reviewed annually to ensure that it continues to properly identify, assess, and mitigate the relevant risks and to ensure the robustness of the governance, monitoring and oversight framework;
      (e) It informs the CBB immediately, at any time after the submission of its crypto-asset listing policy to CBB, if the said policy ceases to comply with the general framework laid out in this Section; and
      (f) It does not make any changes or revisions to its crypto-asset listing policy without the prior written approval of its Board. A copy of the revised crypto-asset listing policy along with the written Board approval must be submitted to the CBB.
      Added: April 2023