Canadian Crypto Exchange Coinsquare Acquires CoinSmart
Main page News, Canada, Exchange, Cryptocurrency Exchanges

Cryptocurrency exchange Coinsquare has entered into an agreement to buy CoinSmart, another Canadian trading platform.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

Coinsquare will purchase CoinSmart's all the issued and outstanding shares for $3 million in cash in addition to 5.2 million in shares of Coinsquare, valued at over $26 million.

The deal will make Coinsquare one of Canada's largest crypto exchanges, the trading platform said in a press release. Once the deal is over, CoinSmart will hold approximately 12% ownership in Coinsquare on a pro-forma basis.

Canadian Coinsquare Announces Leadership Reorganization

In March 2021, Coinsquare announced it would hand over the data of some users to the Canada Revenue Agency (CRA). The exchange was required to submit a detailed list of all cryptocurrency and fiat currency transfers of users that had over $20,000 CDN between December 2014 - December 2020.

In total, the exchange was ordered to provide data on 16,500 largest customer accounts by trading volume in CDN dollars between 2014 and 2020.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error