Canada – Ƀitsell X

Canada Sets New Deadline for Crypto Platforms to Comply With Stablecoin Regulations

September 30, 2024

The Canadian Securities Administrators (CSA) have announced an updated regulatory framework for stablecoins, also known as value-referenced crypto assets (VRCAs), with a new compliance deadline set for December 31, 2024. The updated regulations emphasize transparency and investor protection, requiring stablecoin issuers to maintain appropriate reserves with qualified custodians and to publicly disclose information about their…
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Bank of Canada Redirects Efforts Away From Retail CBDC

September 23, 2024

The Bank of Canada has announced a strategic shift away from developing a retail Central Bank Digital Currency (CBDC) to focus on broader payments system research and policy development. This decision follows a public consultation in 2023, which revealed significant privacy concerns among Canadians. While the central bank remains open to revisiting the idea of…
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Pierre Poilievre Backs Bill to Ban Central Bank Digital Currency in Canada

August 16, 2024

Pierre Poilievre, leader of Canada’s Conservative Party, backs a bill that seeks to ban central bank digital currency (CBDC) in Canada. He argues that a CBDC would give the government excessive control over finances, threatening privacy and economic freedom. “It’s time to put an end to creating a central bank digital currency in Canada,” he…
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Global Crypto Advocacy Movement Reaches Canada

July 13, 2024

Stand with Crypto, a global movement advocating for sensible crypto innovation and policy, has expanded to Canada. Originating in the U.S. with over 1.1 million advocates, the movement is now active in the UK and aims to amplify Canadian voices. With approximately 5 million crypto holders in Canada, there is significant support for blockchain technology…
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Drake Loses Bitcoin Bet Following Canada’s Copa America Exit, ARG Fan Token Soars 40%

July 11, 2024

Canadian rapper Drake lost another Bitcoin bet after Argentina beat Canada 2-0 in the Copa America semifinals. The Argentine Football Association (AFA) fan token soared over 40% following the victory. Bitcoin Bet Lost: Did The ‘Drake Curse’ Do It Again? On Monday, Drake shared on Instagram that he had bet against the Argentina National Football…
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Canada Warns of Rising Pig Butchering and Crypto Investment Scams

May 29, 2024

The Canadian Anti-Fraud Centre (CAFC) has warned about a surge in crypto scams targeting Canadian citizens. In a Tuesday announcement, the anti-fraud call centre said there has been an increase in two specific types of cryptocurrency scams targeting Canadian citizens, including pig butchering or romance scams, and investment scams. In response to this concerning trend,…
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Bitcoin Well Launches Payments via Lightning Network in Canada

May 29, 2024

Bitcoin Well Inc., a non-custodial bitcoin platform, has announced the integration of the Lightning Network into its platform, enabling customers in Canada to instantly sell bitcoin from any personal Lightning Wallet. Bitcoin Well’s founder & CEO, Adam O’Brien, stated that this innovation enhances the speed, security, and cost-effectiveness of selling bitcoin, making it more user-friendly…
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Deutsche Bank Infra Provider Taurus Expands to North America

May 22, 2024

The crypto technology provider Taurus announces the opening of its Vancouver office, marking tis expansion into the North American market. According to a press release shared with Cryptonews.com, the new office will cater to the growing interest in North America as financial institutions aim to launch more crypto services. Taurus provides crypto infrastructure services to…
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Binance Slapped With $4.3 Million Fine By Canada’s FINTRAC

May 9, 2024

Crypto exchange Binance is facing a $4.3 million USD fine by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) for violating terrorist financing and money laundering laws, the Canadian regulator announced Thursday.According to a press release, Binance will have to pay $6,002,000 CAD in administrative monetary penalties for failing to register with FINTRAC…
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Binance Fined Over $4 Million in Canada for Money Laundering Violations

May 9, 2024

Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC) has imposed a fine of C$6 million on crypto exchange Binance for failing to comply with anti-money laundering and terrorist financing laws. This penalty, equivalent to approximately $4.4 million, was levied after Binance failed to register as a foreign money services business and neglected to report over…
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Category: Canada