Canadian Financial Regulators Take Action Against Einstein

Canadian Financial Regulators

The British Columbia Securities Commission (BCSC) announced that it had taken action against Einstein Exchange.

The BCSC is an independent provincial government agency that reports to the Legislative Assembly of British Columbia through the minister responsible for the administration of Canada’s Securities Act.

In a press release issued on November 4th, the BCSC reported that on November 1 it had applied to the Supreme Court of British Columbia for “an order appointing an interim receiver to preserve and protect any assets of Einstein Exchange,” and that the Court had “granted the application and appointed Grant Thornton Limited as interim receiver.”

The papers filed in court revealed that the BCSC took action against Einstein Exchange after getting many complaints by customers who were having difficulty in getting access to their funds on the custodial exchange.

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