NavCan regulates aircraft activites in Canada in a similar manner that the FAA does in the US. Perhaps they have not gotten around to crafting any such regulations, but I'll speculate that some of their current regulations on things like certification requirements for commercial aircraft would apply. If they were to require space tourism vehicles to be certified to the same standards as ordinary aircraft, then I doubt you'll see any commercial spaceflights in Canada anytime soon. The FAA proposals are an alternative set of requirements for commercial spacecraft. Without them, it would cost at least a $100 million (probably much more) to certify a spacecraft according to the current rules. Today, it costs $10-20 million to certify a two-seat airplane under non-LSA rules. Add to that the cost to certify the engines, avionics, and other systems and the cost for a spacecraft goes ballistic faster than the vehicle itself.