Crypto trading platforms are getting a six-month extension to comply with interim requirements with regard to trading stablecoins.

Back in October 2023 the Canadian Securities Administrators (CSA) set an April 30, 2024 deadline for crypto platforms to comply with terms and conditions allowing investors to trade in so-called value-referenced cryptoassets, such as stablecoins, which aim to peg their value to a fiat currency or other assets.

CSA announced on Wednesday it is pushing that deadline to Oct. 31.

Without the extension, crypto platforms that don’t comply with the CSA’s interim requirements in this area would have had to stop their clients from trading and depositing these kinds of assets by the end of this month.

The reprieve is part of the regulator’s ongoing engagement with the emerging crypto industry, and is a response to feedback it has received about the technical challenges of meeting the initial deadline.

The conditions set by the CSA for firms to continue allow trading in VRCAs include provisions relating to the construction of the assets, reserve requirements, due diligence provisions, and disclosure requirements, among other things.

In the meantime, the CSA said it continues to welcome input on the appropriate long-term regulation of stablecoins and other VRCAs.