Crypto exchange Coinbase has hired former Shopify executive Lucas Matheson as its country director in Canada.
Matheson will oversee Coinbase's operations in the country and be responsible for more than 200 engineers.
- The move came after Canadian regulators' efforts to tighten crypto regulations.
- The
popular crypto exchange said its global leadership team would
frequently visit Canada to meet regulators, partners, and the local
crypto community to better understand the market and its unique needs.
- Matheson led operations and strategic expansions at the Canada-based e-commerce giant Shopify for five years.
- Also,
Coinbase hinted at its intention to comply with the upcoming regulatory
framework by announcing that it signed the Pre-Registration Undertaking
with regulators in Canada before the March 24 deadline.
- Rival
crypto exchange Kraken also recently filed a Pre-Registration
Undertaking with the Ontario Securities Commission to continue operating
in Canada.
- Several other exchanges, including OKX, Deribit, and Blockchain.com, announced they would exit the Canadian market due to the new regulations.
- In
February, the Canadian Securities Administrators (CSA) published a
notice requiring crypto exchanges to sign legally-binding commitments
while waiting to be registered with the regulatory authority.
- All crypto exchanges must register with Canadian regulators to operate in the country.
