Canadian Cryptocurrency Exchange QuadrigaCX Files for Creditor Protection in Nova Scotia

Following months of financial and legal troubles, major Canadian cryptocurrency exchange QuadrigaCX has filed for creditor protection, according to an official announcement on Jan. 31.

Per a statement on the exchange’s website, the firm filed an application for creditor protection in the Nova Scotia Supreme Court today in compliance with the Companies’ Creditors Arrangement Act (CCAA). According to PwC Canada “the CCAA presents an opportunity for the company to avoid bankruptcy and allows the creditors to receive some form of payment for amounts owing to them by the company.”

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