Founder blames Canadian climate for selling crypto firm to Robinhood

He recounts building a national crypto brand that survived the fallout from Quadriga and the collapse of FTX, yet still faced a fragmented regulatory regime and scarce growth funding. Samaroo contends that Canada’s patchwork of incentives, higher taxes and stringent crypto rules make scaling abroad unattractive, prompting firms like Nuvei, Verafin and others to seek foreign capital or buyers.

He cites other jurisdictions such as the United States, Britain and Singapore that offer more competitive environments for founders. The piece concludes that blocking sales is easy politics, but creating conditions for companies to stay independent requires substantive policy change.