The British Columbia Securities Commission reportedly said that it did not regulate crypto exchange QuadrigaCX, since it had no indication that it was trading in securities.
Vancouver-based cryptocurrency exchange QuadrigaCX was established in 2013 and is purportedly the first exchange in Canada to be licensed by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
According to Reuters, the BCSC was aware of Quadriga since 2017. However, the exchange was unregulated as there was reportedly no indication that Quadriga traded securities or derivatives, or operated as an exchange in general. “As such, BCSC does not regulate it,” a BCSC spokesman Brian Kladko reportedly told Reuters.
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