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Tag: Canada

Canada Declares War on Cryptocurrency Fraud with Mandatory KYC/AML Regulations

Category: Altcoins, Bitcoin, Blockchain, News, Regulation

Canada Declares War on Cryptocurrency Fraud with Mandatory KYC/AML Regulations

Canadian authorities have amended the nation’s anti-money laundering (AML) and anti-terrorism funding laws to foster orderliness in the finance and cryptocurrency industries by preventing deceitful individuals from exploiting regulatory loopholes in cryptocurrency exchanges and firms. Canada’s Fraud Crackdown As stated in the draft published by Canada Gazette, the Financial Action Task Force (FATF) pointed out some inadequacies in the Anti-Money…

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Canada Urges Caution as no Cryptocurrency Exchange Guarantees User Security

Category: Bitcoin, Blockchain, Regulation

Canada Urges Caution as no Cryptocurrency Exchange Guarantees User Security

The Canadian Securities Administrators (CSA) issued a warning note to investors on June 6, 2018, which called for caution when trading on cryptocurrency exchanges. Despite online exchanges claiming to be registered or verified, the CSA clarified that none of them were recognized officially in Canada. CSA Urges Caution The CSA is the authority on regulating securities in Canada. Its jurisdiction is…

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Canada May Introduce Regulations for Hydroelectric-powered Cryptocurrency Mining

Category: Mining, News, Regulation, Tech

Canada May Introduce Regulations for Hydroelectric-powered Cryptocurrency Mining

Canada could soon see cryptocurrency mining regulations introduced, as the Couillard government devised a framework in May 2018 that proposed selling excess power from Quebec’s hydroelectric plants to miners. Quebec’s Mining Push As per a report on Le Journal de Montreal, Canada’s Minister of Energy, Pierre Moreau, presented a decree to regulate the cryptocurrency mining industry on May 30, specifically…

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Robbers Demand $1 Million in Ripple as Ransom After Stealing Banks’ Customer Data

Category: Altcoins, Crime, News, Tech

Robbers Demand $1 Million in Ripple as Ransom After Stealing Banks’ Customer Data

Two Canadian banks were in for a fix on May 28, 2018, after hackers gained access to account holders’ personal information, and threatened to sell it to interested parties unless a ransom was paid in XRP, Ripple’s native token. Hackers Infiltrate Bank Systems with Ease According to a report, Simplii Financial and Bank of Montreal (BMO) learned that personal information…

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Bank of Canada Announces New Findings on Blockchain Undertaking Project Jasper

Category: Blockchain, Finance, News

Bank of Canada Announces New Findings on Blockchain Undertaking Project Jasper

The latest findings from “Project Jasper,” a flagship DLT experiment announced June 2017, show that distributed ledgers are an effective solution for the automation of securities settlements in real time, Bank of Canada as well as two other partners conclude. This doesn’t come as a surprise for those already familiar with blockchain technology, or the myriad of cryptocurrencies using the…

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World’s Third Largest Cryptocurrency Exchange Huobi to Extend Reach to Canada

Category: Altcoins, Bitcoin, Business, Finance, News, Regulation

World’s Third Largest Cryptocurrency Exchange Huobi to Extend Reach to Canada

2018 has been the year of cryptocurrency regulation, and departure of various blockchain-based digital currency powered businesses from unfavorable regions to more vibrant areas. Now, Huobi exchange has announced its moving to Canada for greener pastures. Huobi’s Expansion Plans The Singapore-based bitcoin exchange, and the world’s number three by 24-hour volume, Huobi is expanding its operations to crypto-friendly Canada, with…

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Canadian Bitcoin Exchange Runs Crypto TV Commercial Ahead of its Upcoming IPO

Category: Altcoins, Bitcoin, Business, Finance, News

Canadian Bitcoin Exchange Runs Crypto TV Commercial Ahead of its Upcoming IPO

While many firms in the cryptosphere prefer going public via initial coin offerings (ICOs), reputable Canadian exchange, Coinsquare, has chosen to tread the traditional path by looking towards an initial public offer later in September 2018. The exchange has launched its television advertisement In a bid to whet the appetite of investors at a time when the enthusiasm of some…

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Cryptocurrency Laws Get Stringent after Ontario Securities Commission Receives Complaints

Category: Altcoins, Bitcoin, Finance, News, Regulation

Cryptocurrency Laws Get Stringent after Ontario Securities Commission Receives Complaints

After receiving multiple complaints about crypto trading platforms, the Ontario Securities Commission (OSC) is examining these businesses to decide on their legality, as suggested by a report. Crypto-Exchanges May not Be Compliant The buying and selling of digital tokens on cryptocurrency exchanges may conflict with the security laws, according to Ontario’s regulatory body. A spokesperson of the commission, Kristen Rose,…

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Canadian Tech Firm Purchases Cryptocurrency Mining Firm in All-stock Deal

Category: Altcoins, Bitcoin, Business, News, Tech

Canadian Tech Firm Purchases Cryptocurrency Mining Firm in All-stock Deal

For a price of $106 million, cryptocurrency mining firm CryptoGlobal Corp is being acquired by Canadian technology company, HyberBlock Technologies Corp. The deal is an all-stock valued one. HyperBlock also recently completed the purchase of one of North America’s largest U.S.-based crypto mining and hosting facilities. Combined with the agreement to acquire CryptoGlobal, HyperBlock is one step closer to its…

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OTC Markets Exchange Flags Canadian Pot and Crypto Stocks

Category: Blockchain, Business, Finance, News, Regulation

OTC Markets Exchange Flags Canadian Pot and Crypto Stocks

In the midst of the ongoing cryptocurrency and blockchain craze, OTC Markets Group, a U.S based decentralized stock exchange, has beefed up its oversight and warnings to investors about potential fraud as it continues to see companies boost their stock price by pivoting to crypto. Distinction between Promotion and Legitimate Listing The OTC Markets Group, which gets its name from…

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