Cryptocurrency
WonderFi, Coinsquare, and CoinSmart agreed to merge to create the largest regulated crypto trading platform in Canada.
- The
move comes as Canadian regulators have raised the cost of compliance
for cryptocurrency companies, forcing big players like Binance and
Kraken to close operations in Canadian provinces.
- Coinsquare
shareholders will own a 43% stake in the resulting company, WonderFi
shareholders will take 38%, and CoinSmart shareholders 19%.
- WonderFi President and CEO Dean Skyrka said the merger provides a "path to profitability" despite the regulatory environment.
- The U.S. cryptocurrency industry is also facing increased regulatory pressures.
| Bitcoin | $27,883.20 | -2.08% |
| Ethereum | $1,814.53 | 1.07% |
| Litecoin | $92.68 | -0.16% |
| Bitcoin Cash | $127.45 | 1.01% |
*Exchange
rates as of 7 am ET. Data from Morningstar Financial Research. To
understand why we track these currencies and the differences between
them, .
