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Allan Goodman quoted in "Ontario securities regulator looking into digital platform Quadriga", Thomson Reuters

February-8-2019

Lawyer Allan Goodman
Area Technology

Details

Excerpt from "Ontario securities regulator looking into digital platform Quadriga", by John Tilak and Matt Scuffham, Thomson Reuters:

The OSC could review the matter to see if Quadriga has breached any securities laws, said Allan Goodman, co-chair of the technology group at law firm Goodmans LLP. “For example, should (Quadriga) have been registered as an exchange and were any securities laws breached with respect to the trading of the coins on the exchange?”

About C$180 million ($135.7 million) in cryptocurrencies have been frozen in Quadriga’s user accounts since its founder Gerald Cotten, the only person with the password to gain access, died suddenly in December.

Goodman said in the event of securities law violations, the OSC could bring an enforcement action against the company or its officers and directors. “If ultimately successful, one would suppose any monetary recovery could be used to address possible losses for customers,” he said.

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