Despite the scandal involving Quadriga CX, it has become clear that Canada learned virtually nothing about cryptocurrency exchange regulations.
Canada Is Backtracking on Its Crypto Rules
As we all remember, the founder of the doomed exchange, Gerald Cotten, was pronounced dead in India during the latter half of 2018. Cotten was the only executive of the company that had access to the “digital keys” which would give users a clear path to the $190 million in crypto funds they had invested through the company’s platform.
Users then began to attack Cotten’s wife, hoping this would potentially produce a doorway to their money, but their efforts have proved fruitless. The company has recently filed bankruptcy and is entrapped in a class-action lawsuit brought forth by its many…