Canada Moves to Regulate Crypto Trading Amid Quadriga Scandal

Canada is moving to overhaul its securities regulations to cover crypto trading platforms such as Quadriga Fintech Solutions Corp., a digital exchange that lost access to C$260 million ($195 million) of investor assets after the death of its founder.

The Canadian Securities Administrators, an umbrella organization of provincial and territorial regulators, is seeking comment on a tailored framework “to address the novel features and risks” of platforms that trade crypto assets. These include a potential lack of investor safeguards, conflicts of interest, a dearth of price transparency and inadequate security controls, it said.