min to read

2019-09-18 12:58:41




News

Canada Revenue Agency to examine $190 million loss of QuadrigaCX exchange

Canada vs QuadrigaCX

min to read

2019-09-18 12:58:41

Canada Revenue Agency (CRA) intends to examine the corporate declarations of the bitcoin exchange QuadrigaCX

Canada Revenue Agency (CRA) intends to examine the corporate declarations of the bitcoin exchange QuadrigaCX, reports The Globe and Mail.

 

The CRA requested access to the exchange's tax records between October 1, 2015 and September 30, 2018, the date when QuadrigaCX withdrawal spree was tentatively started.

 

The E&Y auditor acting as the trustee of the exchange intends to discuss the tax request and obtain the court’s permission to disclose information.

 

At the same time, the company noted that somehow they are forced to meet the requirements of the CRA, although it will take a long time and delay the payment of compensation to victims.

 

Let us remind that at the beginning of the year it became known that QuadrigaCX lost the access to the users' funds for $190 million, and later the Indian authorities confirmed the death of Gerald Cotton, the founder of the exchange.

 

In April, a court ordered the platform to start the bankruptcy proceedings.

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