Coinsquare Finalizes Agreement With CRA: Protects Majority of Client Data

In September 2020, the Canada Revenue Agency (CRA) filed an application in Federal Court seeking an order to compel Coinsquare to provide information pertaining to all of our clients’ account history and trading data. The CRA stated that it requires this information for tax reporting and compliance purposes. For reference, this story was covered in the media and you can read it here. We expect that similar disclosures will soon be required from other Canadian digital asset exchanges. Coinsquare negotiated to protect our client’s privacy, and limit any disclosure to only what was absolutely required by the CRA under Canadian

Mogo Announces Strategic Investment in Coinsquare, Canada’s Leading Digital Asset Trading Platform

VANCOUVER, British Columbia–(BUSINESS WIRE)–Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) (“Mogo” or the “Company”), a digital payments and financial technology company, today announced its investment in Coinsquare Ltd. (“Coinsquare”), Canada’s leading digital asset trading platform, including the execution of a definitive agreement (the “Agreement”) for Mogo to acquire 19.99% ownership of Coinsquare’s outstanding common shares on a post-transaction basis for total consideration of approximately $56.4 million. The Agreement also includes rights for Mogo to acquire an additional 20% ownership interest in Coinsquare through purchases of shares from current shareholders and the exercise of warrants under certain conditions (refer to “Terms of the Transaction”), for