The Ontario Securities Commission (OSC), the Canada’s largest securities body, recently revealed that it could begin an investigation into the recent financial issue of crypto exchange QuadrigaCX.

British Columbia Securities Commission claimed that it did not regulate QuadrigaCX. However, as reported by Reuter (Feb 8), the OSC confirmed in a statement that it was looking into “a regulatory gap leaves investors in the digital exchange unprotected against potential losses”.

“Given the potential harm to Ontario investors, we are looking into this matter and have already been in contact with the monitor,” the OSC said to Reuter regarding the QuadrigaCX scandal.

Allan Goodman, a co-chair of a technology group at law firm Goodman LLP, said the OSC would explore the issue to see if QuadrigaCX has breached any securities laws. “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?”

As The Crypto Sight reported last month, the suspicious death of its CEO and founder Gerald Cotten, has made the exchange inaccessible. The exchange could not access the significant cryptocurrency reserves held in the cold wallets as no one other than Cotten can access the cold wallets.