Quote:
Originally Posted by Azure
Already done.
Crypto.com is registered and insured in Canada. Were one of the first Crypto companies to do so.
Other than that I agree, and I welcome the regulation & oversight. The Canadian government is responsible for protecting Canadian citizens via proper oversight of financial companies. Plus it forces companies like Crypto.com Wealthsimple, Coinbase and others to operate within the law, so I as a Canadian know I can trust their services.
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Isn't Crypto.com registered only as a Money Service Business (similar to a currency exchange) in Canada? I could be wrong on that, but I don't think they're registered or regulated like a trading platform, securities dealer, or a bank would be as a Financial Entity (whereas Wealthsimple is). There's a pretty big difference in terms of regulation between the two, and I imagine if they act like a bank they're going to be treated like one, which will likely involve significantly more oversight than they have right now.