Announced Wednesday, Toronto-based Coinberry has acquired a financial institution bond, a requirement for registration with its provincial securities regulator, the Ontario Securities Commission.
The move is a concrete example of a general tightening of regulation in Canada, particularly in the wake of the Quadriga debacle.
"Every Canadian crypto user remembers Quadriga and the impact of that is still fresh in the back of their minds," said Coinberry CEO Andrei Poliakov. "People still have to trust exchanges and platforms to use crypto and the investment on Coinberry's part protects against the corrupt human element that has struck the personal finances of many Canadians."
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