APX Lending has obtained an exemption license from the Securities and Exchange Commission of Canada

According to Cointelegraph, cryptocurrency mortgage lending company APX Lending has obtained an exemption license from the Securities and Exchange Commission of Canada (CSA) to provide cryptocurrency mortgage loans without the need for traditional traders to register or submit prospectuses. A spokesperson for APX stated, "Over the past two years, APX has collaborated with the Ontario Securities Commission (OSC) to develop a regulatory framework to facilitate this business, as there was no such framework in Canada before. This exemption only applies to APX and does not set a precedent for other companies The platform currently supports using Bitcoin and Ethereum as collateral to provide loans in Canadian dollars or US dollars. APX plans to add more digital asset and fiat currency options in the near future. The company claims to be expanding into the United States and plans to expand into Australia and New Zealand after obtaining regulatory approval.