QuadrigaCX is Granted Protection Amid Confusion and Suspicion over CEO Sudden Death

QuadrigaCX is Granted Protection Amid Confusion and Suspicion over CEO Sudden Death

Canadian crypto exchange QuadrigaCX has been granted an order for creditor protection in Nova Scotia Supreme court, following the recent death of the company’s co-founder and CEO. QuadrigaCX is a major cryptocurrency exchange and was Canada’s largest cryptocurrency exchange until 2019. QuadrigaCX’s CEO Gerald Cotton reportedly died suddenly from complications relating to Crohn’s disease in December 2018, at the age of 30. Cotton reportedly died on December 9 in India while opening an orphanage. Cotton’s sudden death was both…

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Crypto Exchange QuadrigaCX in Double Mourning: Founder Dies, Funds Inaccessible

Crypto Exchange QuadrigaCX in Double Mourning: Founder Dies, Funds Inaccessible

Following the death of the sole director and founder of QuadrigaCX, Gerry Cotten, the Canada-based crypto exchange has been thrown into several chaotic situations arising from their inability to access the firm’s funds which are reportedly stored in a cold wallet. Running a crypto firm has never been a walk in the park. You are constantly working to meet the needs of customers while on the lookout for possible ways to protect your funds from…

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Canada’s House Finance Committee Submits Recommendations for Cryptocurrency Regulations

Canada’s House Finance Committee Submits Recommendations for Cryptocurrency Regulations

Canada’s House Finance Committee plans to change the way cryptocurrencies are regulated in order to prevent money laundering. Every 5 years the Canadian government is required to undertake a review of the “Proceeds of Crime (Money Laundering) and Terrorist Financing Act” (PCMLTFA). The review started in February this year, and more than 70 expert witnesses contributed across 18 meetings. There has long been concern about the use of cryptocurrency in money laundering and illegal activity,…

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National Bank of Canada Explores Blockchain for Securing Financial Transactions

National Bank of Canada Explores Blockchain for Securing Financial Transactions

The IT company and consulting firm CGI, Group Inc. announced on October 21 a new partnership with the National Bank of Canada and Skuchain, a technology company optimizing the supply chain, as part of a pilot program that will simplify and improve the procurement process of “negotiation of letters of credit and guarantees.” Blockchain to Revolutionize Traditional Letter of Credit Settlement According to the press release, CGI will integrate its CGI Trade360 financial platform with…

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DMG Brings Blockchain into Canadian Cannabis Industry

DMG Brings Blockchain into Canadian Cannabis Industry

DMG Blockchain Solutions Inc, a diversified cryptocurrency and blockchain platform company, announced on Tuesday 16 October that they are developing a global supply chain management platform for legal cannabis. As part of the ongoing development, DMG are in talks with people across the cannabis industry about how to make this happen, this includes licensed producers, quality assurance labs, distributors and government regulators. The Vancouver based company is currently advised by key crypto player and Litecoin…

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