Canadian cryptocurrency exchange CoinSmart submits OSC application »CryptoNinjas

CoinSmart, a Toronto-based cryptocurrency exchange, today announced that it has appointed Joe Tosti as its Chief Compliance Officer. Joe has over 20 years of experience in compliance, trading, operations and estate planning, and has worked with some of the largest public institutions in Canada.

Joe’s addition to the team follows the latest statement from the Ontario Securities Commission (OSC) announcing that crypto trading platforms must bring their operations as a dealer or marketplace in line with Ontario securities laws.

On March 31, CoinSmart filed its application for dealer registration with the OSC and securities regulatory authorities in all other provinces and territories of Canada.

CoinSmart is also actively involved in membership discussions with the Investment Industry Regulatory Organization of Canada (IIROC).

As Chief Compliance Officer, Joe will oversee and advise on regulations, play a critical role in protecting the customer and ensuring the customer’s financial safety. Prior to joining CoinSmart, he was Vice President of Compliance at CI Investments and Chief Compliance Officer at CI Private Wealth and CI Direct Investing, one of Canada’s largest investment funds. In addition to his role at CI, Joe has also contributed to the success of many industry start-ups.

“CoinSmart has always been on the path of compliance and regulation and we look forward to Joe following that mission,” said Justin Hartzman, CoinSmart CEO. “As CCO, he will effectively strengthen the safeguards we have put in place for our customers and continue to ensure that CoinSmart is always at the forefront of delivering the safest and most secure services.”

As one of the first Canadian exchanges to comply with the regulations of the country’s financial intelligence unit – Financial Transactions and Reports Analysis Center of Canada – CoinSmart prioritizes the safety and security of its customers with Know Your Client (KYC) compliance and Anti-Money Laundering (AML) regulations and the use of cryptocurrency cold storage to reduce theft.

“Canadians have always had such strong confidence in their financial system and they deserve the same level of trust and protection when it comes to crypto,” said Joe. “I believe that fostering a strong culture of compliance and maintaining good governance is the cornerstone of a successful organization. As the industry continues to evolve and mature, I think we are moving towards a direction where customers can have a safer and more secure experience with cryptocurrency. “

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