South African Sygni to Open Crypto Exchange

Sygnia Ltd. is an asset management company, based in Johannesburg
28 May 2018   1055

The investment company Sygnia Ltd., based in Johannesburg (South Africa). intends to launch the SygniaCoin crypto exchange in the third quarter of 2018. This is reported by Bitcoin. com.

Representatives of the company note that Sygniacoin will offer investors a safe trading platform with an international infrastructure, a well-designed system of protection and integration with standard investment products.

We aim to launch SygniaCoin, a cryptocurrency exchange, in the third quarter of 2018. The cryptocurrency market is evolving at a rapid pace internationally and domestically, and is attracting both domestic and international flows. With its fintech focus, Sygnia is well-positioned to become the first major financial services institution to embrace cryptocurrencies and to offer investors a secure trading and execution platform backed by an international infrastructure, well-designed custody, and integration with standard savings products.

Magda Wierzycka
CEO, Sygnia

Sygnia Ltd. currently manages assets worth 184 billion rand (about 14.7 billion US dollars). The company's offices are located in Cape Town, Johannesburg and Durban.

Authorities to Study Bankrupt QuadrigaCX

Canada Revenue Agency sent a request for access to the tax info from Oct. 1 2015 to Sep. 30, 2018
18 September 2019   43

The Canadian Revenue Agency (CRA) intends to examine corporate declarations that ceased to exist as a result of the bankruptcy of the QuadrigaCX bitcoin exchange, The Globe and Mail reports.

CRA sent a request for access to the tax reporting of the exchange from October 1, 2015 to September 30, 2018, that is, on the date when QuadrigaCX tentatively began problems with the withdrawal of funds.

The E&Y auditor, acting as the trustee of the exchange, intends to discuss the tax request and obtain permission from the court to disclose information.

At the same time, the company noted that one way or another they are forced to comply with the CRA requirements, although this will take a lot of time and delay the payment of compensation to victims.

At the beginning of the year it became known that QuadrigaCX lost access to user funds by $ 190 million, and somewhat later, Indian authorities confirmed the death of the founder of the exchange, Gerald Cotten.