Crypto Prices Mixed; Canadian Regulators Look Into QuadrigaCX
Investing.com – Without a major directional driver, prices of most digital coins were little changed Monday morning in Asia.
Bitcoin slid 0.76% to $3,627 by 11:15 PM ET (04:15 GMT).
The saga surrounding Canada’s major cryptocurrency exchange QuadrigaCX continued to develop over the weekend, as regulators got involved. On Feb. 8, Reuters reported that the Ontario Securities Commission, the relevant provincial regulator in Canada, started an investigation into the crypto exchange. The regulator believes there is a loophole that leaves crypto traders exposed to risks and it is unclear who would be held accountable for any potential losses.
Problems started when QuadrigaCX’s CEO died in December without giving anyone else access to funds in cold wallets, which are storage facilities for funds that are not connected to the internet.
“Given the potential harm to Ontario investors, we are looking into this matter and have already been in contact with the monitor,” the Commission told Reuters.
In other news, two Latin American countries sent out positive signals about cryptocurrencies.
Argentina’s state public transport card SUBE now supports Bitcoin and users can now top up their cards with the digital coin.
Meanwhile in Brazil, a Rio de Janeiro court ruled that the bank account of local crypto exchange Mercado Bitcoin should not be forcibly closed. A judge said that the Central Bank of Brazil has not banned the “buying/selling of digital assets within the nation’s borders”.