There's a new first. Coinsquare is the first regulated dealer exchange in Canada. 🇨🇦
that still haunts the early generation of Canadian crypto users to this day. Four years prior, Gerald Cotten, co-founder of Canada's then-largest cryptocurrency exchange QuadrigaCX, died under mysterious circumstances in India. But, before his passing, Cotten took virtual keys for digital wallets and moved them into cold storage, leading to the permanent loss of $190 million in user funds.
In an interview with Cointelegraph business editor Sam Bourgi, Coinsquare chief operating offic Eric Richmond explained that a regulatory framework now exists to prevent similar incidents in the future: As the regulation only came into force recently, all crypto exchanges are given a two-year exemption where they must register with the IIROC during this period. Currently, Coinsquare is the only firm in the space that is IIROCregistered. Similarly, the company has a strict set of rules in place when it comes to listing new tokens to ensure its users do not fall victim to scams:
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