The wary skepticism that Canada's big banks have for the cryptocurrency industry was on full display Friday when a Nova Scotia judge issued an order for the eventual disbursement of more than $30 million that belonged to the insolvent QuadrigaCX trading platform. 'I don't blame them for hesitating'Elizabeth Pillon, a lawyer representing Ernst and Young, said the banks had made it clear they were in uncharted territory. "I don't blame them for hesitating," she told the court, saying there were "money-laundering issues" raised by the banks. When QuadrigaCX was in business, it couldn't get a bank account because of the reluctance of traditional banking institutions. Wood questioned the banks' lawyers about the need for such provisions, suggesting they may have gone too far.

Source: CBC News February 22, 2019 21:22 UTC