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ARTICLE · 15 APRIL 2019

Canadian Securities Administrators Consultation Paper: The Regulation Of Crypto-Asset Platforms

According to the death certificate produced by the Government of Rajasthan (a region of India), Gerald Cotten, the CEO of the cryptocurrency exchange QuadrigaCX ...

CanadaTechnology

According to the death certificate produced by the Government of Rajasthan (a region of India), Gerald Cotten, the CEO of the cryptocurrency exchange QuadrigaCX, died on December 9, 2018. Approximately one month later, QuadrigaCX went offline, and filed for protection from its creditors only a few days after that. QuadrigaCX owes CAD$190 million in crypto assets to its customers, but cannot repay it because Cotten was said to have sole control of the keys connected to the funds. The suspicious circumstances have led some to speculate that Cotten faked his death and has absconded with the funds.

Concerns regarding security of cryptocurrency trading platforms (Platforms) are not new, and a large number of these Platforms operate without regulatory oversight, while regulators have struggled to develop an appropriate framework within which they can operate. This regulatory uncertainty harms investor confidence and hampers developments in the crypto-asset space. In

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