The Vancouver-based firm said the regulator chose not to intervene in its $38.3-million acquisition of Coinberry, and told WonderFi that all of its future takeovers would be subject to review. (Financial Post)

Talking point: Kevin O’Leary-backed WonderFi claims the review was the Competition Bureau’s first in the cryptocurrency space. While the regulator’s disclosures confirm it examined the deal, it did not directly answer The Logic’s questions about whether that was the case. “The Bureau is required by law to conduct its work confidentially,” said spokesperson Camilla Corrigan. “As a result, I cannot confirm whether the Bureau is investigating any transactions relating to the Canadian cryptocurrency sector.” WonderFi also bought Toronto’s BitBuy for $206 million earlier this year. The firm told the Financial Post it would prefer the competition watchdog focus on foreign firms acquiring Canadian crypto companies, like Bahamas-based FTX, which bought Calgary-based Bitvo in June. But the regulator’s job is to ensure competition within the Canadian market, not to keep out international entrants. And WonderFi has made it clear it wants a controlling share in Canada—CEO Ben Samaroo told Betakit in April he was looking to roll up one more platform to get to at least 50 per cent market share.