No, that's not the case. The CRTC has adopted a measure called the Exemption order for digital media broadcasting undertakings.
This enables it to refrain from regulating online services. It has the power to do so, but it has chosen to exempt those services.
The CRTC thus had, and still has, the power to regulate those services. However, all the powers it currently has in its toolbox in order to regulate online distribution services would be withdrawn from it under Bill C-10.