RATE Group | Canadian Regulator Seizes Troubled Crypto Exchange
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Canadian Regulator Seizes Troubled Crypto Exchange

06 Nov Canadian Regulator Seizes Troubled Crypto Exchange

Posted at 09:03h in Bitcoin News by

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Canadian Regulator Seizes Troubled Crypto Exchange

The British Columbia Securities Commission has taken control of a cryptocurrency exchange which allegedly owes customers over $12 million. Einstein Exchange had planned to shut down amid complaints, lawsuits, and money laundering investigations. The Canadian regulator has also taken action against another crypto exchange after receiving multiple complaints.

Also read: OSC Commissioner Debunks Arguments Against Bitcoin, Green-Lights Bitcoin Fund

Exchange Seized

The British Columbia Securities Commission (BCSC) has taken control of a Vancouver-based cryptocurrency exchange. The regulator announced Monday that the Supreme Court of British Columbia has granted its application for “an order appointing an interim receiver to preserve and protect any assets of Einstein Exchange.” Grant Thornton Ltd., the court-appointed interim receiver, entered and secured the premises of Einstein Exchange on Nov. 1, the commission revealed.

The documents filed in court detail…

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