PANews reported on April 2nd that according to Cointelegraph, crypto mortgage lending company APX Lending has obtained an exemption from the Canadian Securities Administrators (CSA), allowing it to provide cryptocurrency-backed loans without traditional dealer registration or prospectus submission. An APX spokesperson 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 no such framework previously existed in Canada. This exemption is specific to APX and does not set a precedent for other companies."

The platform currently supports Bitcoin and Ethereum as collateral, offering loans in Canadian or US dollars. APX plans to add more digital assets and fiat currency options in the near future. The company claims to be expanding to the United States and intends to extend to Australia and New Zealand after obtaining regulatory approval.