Coinsquare acquires publicly-traded crypto exchange CoinSmart
CoinSmart reported $16.7 million in gross revenue in 2021 as retail trading volumes soared during the Bitcoin bull market. Canada’s crypto exchange landscape appears to be consolidating after Coinsquare, one of the largest digital asset trading platforms in the country, acquired CoinSmart for an undisclosed amount. On Thursday, Coinsquare announced that it had entered into a definitive agreement to purchase all issued and outstanding shares of CoinSmart’s wholly-owned subsidiary Simply Digital. Once the deal becomes final, CoinSmart will hold a roughly 12% ownership stake in Coinsquare on....
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All crypto exchanges must register with IIROC if they want to operate in Canada, and there is currently a backlog of applications. Coinsquare, Canada's longest-operating crypto asset trading platform, announced on Oct. 12 that the Investment Industry Regulatory Organization of Canada (IIROC) had approved its dealer registration and IIROC membership. This regulatory status will now position Coinsquare as the first crypto-only IIROC-registered investment dealer and marketplace member in Canada. The Coinsquare team wrote:"In dealing with an IIROC registrant, Coinsquare clients now have the....
Since the beginning of the year, two of the major Canadian exchanges have shut down their operations bringing up difficult times for Canadian Bitcoiners. This has reduced the ability for Canadian bitcoin enthusiasts to easily buy and sell the digital currency. But not everything is bad news, as some regulatory pressure is on exchanges such as QuadrigaCX, Cointrader and Coinsquare.io working hard to improve their services. Coinsquare.io already opened a CAD order book on their exchange platform some time ago and now the Canadian exchange announce a new partnership with INTERAC®, one of the....
Canada’s tax authority is reportedly asking a federal court to force cryptocurrency exchange Coinsquare to hand over information and certain documents on all of its users since the beginning of 2013. The Canadian crypto exchange has over 200,000 users. Canada Revenue Agency Wants Data on All Coinsquare Users The Canadian tax authority has asked a federal judge to force Coinsquare “to hand over information and certain documents about all its clients” since the beginning of 2013, the National Post reported on Friday, elaborating: The Canada Revenue Agency wants to know the....
The crypto community is still recovering after Alex Green, also known as alleged scammer Ryan Kennedy, washed his hands of ownership of popular cryptocurrency exchange MintPal and supposedly stole nearly 4000 bitcoins from their cold storage. MintPal was a go-to exchange for many new altcoin users looking for a simple and easy way to play the markets. Now, users who were stolen from are discouraged while they await legal charges against Green. Also Read: CoinGecko Co-Founder Says MintPal Bitcoin Exchange Is Lost Cause. In the wake of the MintPal disaster, a new crypto-to-crypto exchange....
The additions to the board follow the confirmation of a new CEO, CCO, and COO in August. Coinsquare, a crypto exchange that has been under the scrutiny of Canadian regulators following allegations of wash trading, said it will be adding two new members to its board of directors.In a Nov. 25 announcement, the exchange said Nicholas Thadaney and Wendy Rudd are joining its board. Thadaney was President of the Toronto Stock Exchange and Rudd is currently a board member for the Canadian Regulatory Technology Association.The new appointments follow a major change in leadership mid-year. In July,....