Canadian crypto exchanges face deadline for CIRO membership
Crypto traders have been on interim rules since March 2021, and its time to finalize membership in the securities industry's self-regulatory organization.
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Crypto traders have been on interim rules since March 2021, and its time to finalize membership in the securities industry's self-regulatory organization.
The BCSC finds LiquiTrade guilty of running an illegal exchange, which could result in sanctions ranging from fines to a ban.
For two years in a row, Canadians have shown a strong preference for cash and card payments for day-to-day purchases.
The plan, which passed after Bitfarms shareholder meeting, will complicate Riots effort but not necessarily stop it from succeeding.
Pleterski and an associate were arrested months after multiple investor complaints and months of police investigation.
In the wake of Binance’s departure from Canada, cryptocurrency exchange Bybit has announced its exit from the nation as well, citing “recent regulatory development” as the reason. Effective May 31, Bybit stated that it would cease accepting applications from Canadian residents. Bybit to Pause Operations in Canada According to a Tuesday announcement, Bybit is withdrawing [...]
The post Bybit Follows Binance’s Footsteps, Exits Canadian Market Amid Regulatory Concerns appeared first on Crypto Breaking News.
APX Lending, a leading blockchain-based lending platform, has received exemptive relief from the Canadian Securities Administrators. This decision allows APX Lending to operate its lending platform without needing to register as a securities dealer in Canada. The Canadian Securities Administrators granted this relief after determining that APX Lending’s lending activities do not fall under the [...]
The post APX Lending Secures Exemptive Relief from Canadian Securities Administration to Boost Growth appeared first on Crypto Breaking News.
Canadian law enforcement reports that affluent cryptocurrency investors have become targets of home invasion-style robberies. Both Delta Police and Royal Canadian Mounted Police in Richmond have issued warnings after having dealt with multiple robberies involving prominent cryptocurrency investors over the past year. Wealthy Crypto Investors Become Targets in Canada Over the last 12 months, numerous [...]
The post Canadian Police Warn of Surge in Home Invasion-Style Robberies Targeting Affluent Crypto Investors appeared first on Crypto Breaking News.
The number of crypto enthusiasts has risen significantly in the last few years, and therefore, the need for a holistic trading platform has also surged. Hence, soon after its launch, the presale of TMS Network (TMSN) became the most desired asset in the market. TMS Network (TMS) is a revolutionary crypto trading platform. On the […]
Dubai has been promoting the use of cryptocurrencies. Several Middle Eastern nations were seen embracing the digital asset sector throughout 2022, notwithstanding the bad market. A local university was supporting this effort alongside CZ-led crypto exchange as Dubai strives to be the world’s crypto capital. A recent tweet claims that Binance is collaborating with Canadian […]
Authorities in Manitoba are temporarily suspending the connection of new crypto mining facilities to the power grid. The Canadian province, which relies heavily on hydroelectric generation and attracts miners with low electricity rates, fears it may face overwhelming energy demand. Manitoba Suspends New Crypto Mining Operations Citing Possible Increase in Electricity Usage The government of
The post Manitoba Halts New Crypto Mining Projects Due to Expected High Energy Demand appeared first on BTC Ethereum Crypto Currency Blog.
Caisse de Depot et Placement du Québec (CDPQ), one of the largest pension fund managers in Canada, has reportedly written off the $150 million investment it put in bankrupt crypto lender Celsius Network.
In a press release on Wednesday, CDPQ acknowledged that the Celsius bet might have been made a little “too soon.” But while that’s the case, the Quebec-based company said it had done all the due diligence it had to do before taking the bet in October 2021 – just before crypto reached the bull market peak (in November).
Charles Emond, the CDPQ CEO said that its team consulted and approached the stake cautiously, and did not see the eventuality that registered in June. And with Celsius bankrupt, plus millions of people hit by the losses, the pension fund manager is writing off their stake.
However, even as they do so, Emond noted that the firm is looking at legal possibilities.
CDPQ’s returnsThe company’s announcement on Wednesday came as it released an update of its six-month returns.
According to the report, the firm saw a -7.9% return over the first half of 2022, with the fixed income portfolio dropping 13.1% and public stocks -16%. Overall, as the broader market suffered, CDPQ net assets declined to $303 billion.
Factors that impacted the market included rising inflation, higher interest rates and the geopolitical tensions exacerbated by Russia’s invasion of Ukraine.
Also detrimental to returns were the massive declines in equities and bonds, – it is this same scenario that contributed to the crypto crash and the contagion that followed.
It’s these factors that translated into several “collateral effects” that hit Celsius Network and other crypto companies very hard, with Celsius carrying a $1.2 billion hole in its balance sheet.
The post Canadian firm writes off $150M Celsius bet appeared first on Invezz.
The intention of investing in cryptocurrencies like Bitcoin (BTC) or using tokens as a payment option among Americans is higher than among Canadians, a new survey shows. (Read More)
A political action committee (PAC) called Protect Our Future has spent more than $9 million to support candidates running for ...
A group of financial firms has formed a non-profit trade association, called the Web3 Council. The Council will work with ...
The creator of Ruby on Rails says the situation in Canada is “terrifying” and “a real wakeup call.” He admits that he was wrong about bitcoin and cryptocurrency. “A few months ago, I would not have found it credible if you said a three-week peaceful protest in Canada could have led to martial law, frozen […]
Saagar makes the case for bitcoin and all crypto currency given the Canadian government's financial crackdown of the Trucker convoy and those who helped fund it .
Saagar Enjetia and co-host Krystal Ball formerly anchored The Hill's daily news broadcast, and now own and host the independent platform 'Breaking Points'.
Video courtesy of Breaking PointsSubscribe to GCP in a reader
David Heinemeier Hansson has backtracked on his decision to not support crypto. The Danish programmer who is famous for creating the Ruby on Rails programming language had been a staunch opponent of the crypto mission in the past. For Hansson, the ideologies behind the creation of cryptocurrencies did not seem to make sense in the western setting where rule of law prevailed. That is until the Canadian Truckers Protest of 2022. The World Needs Crypto In a move that shocked the world at large, the Canadian government had enacted martial law against protesters who were involved in the Canadian truckers’ peaceful process. It however did not end there as the government had moved forward to financial warfare against protesters and supporters. From suspending crowdfunding campaigns, it has graduated to going after individuals by freezing their bank accounts. Related Reading | Bitcoin Sets Stage For Reversal As Unmoved Supply Nears All-Time High This move from Prime Minister Justin Trudeau has sparked debates regarding government control and individual liberty to transact. Hansson has chipped into this debate with what can only be regarded as a heartfelt admission that he was wrong about the role cryptocurrencies can play in the west. In his post, the Basecamp founder outlined his past history with crypto, explaining that while he saw the need for it in places like Venezuela with its crumbling economy or China with its authoritarian government, he just did not see the need for it in the west. The Canadian Truckers Protest proved him wrong. Hansson all but goes through the motions in his post that outlines not only his past history with cryptocurrencies but how current affairs have caused a shift in his beliefs. Noting his reaction to when news of the GoFundMe freeze broke, he revealed that he “thought it was something another fund-raising platform – one less likely to collaborate with the Canadian authorities – could route around.” And he was right as another platform, GiveSendGo, filled the gap very quickly. The morale boost from this newfound investment route would prove to be short-lived as the Canadian government had taken it one step further as it began freezing accounts of protesters and donors. This is expected to go on for months after the protests have ended as the police have said it will continue this financial warfare against protesters and donors. Market cap back above $1.7 trillion | Source: Crypto Total Market Cap on TradingView.com For Hansson, this was the straw that broke the camel’s back and has completely reconfigured his views towards crypto. Because cryptocurrencies are not controlled by any entity or government, protesters and donors would not have to worry about having their assets frozen. Their right to transact is protected and cannot be used again them in any way. Related Reading | Ripple Vs. SEC: XRP Showing Strength In The Legal Fight As New Evidence Arises Hansson closes out his statement by admitting he was “too hasty to completely dismiss crypto on the basis of all the things wrong with it at the moment.” Admitting that it’s currently the best shot at protecting the freedom to transact. Featured image from Deseret News, chart from TradingView.com
Nunchuk provides Bitcoin wallets and multi-sig wallets to anyone who wants one (multisig is a wallet that requires more than 1 person to unlock). Their apps are free, their code is open source - and they're never in possession of anyone's funds.
So when the Canadian Government ordered the wallet provider to freeze funds and turn over all personal information on a user, they instead got a lesson on crypto custody...
Copies of an order from the Royal Canadian Mounted Police (RCMP) began circulating yesterday morning after Prime Minister Justin Trudeau's took the dramatic step of giving himself new, and far reaching powers over his citizens.
He's held these new powers since Monday when he invoked the 'Emergencies Act' in response to truckers protesting vaccine mandates, and a wide range of restricted rights depending on where in Canada they are from. The truckers say it's time to end every restriction that was put in place and justified by citing Covid19 prevention.
Ironically, Last Year He Held the SAME VIEW As The Protest He Now Wants To "Crush"...
A quote you couldn't imagine hearing him say today “There are medical reasons, there are a broad range of reasons why someone might not get vaccinated and I’m worried about creating knock-on, undesirable effects in our community.” he was telling Reuters a little over a year ago.
What 'undesirable effects' was he referring to? He said it would end up a 'divisive' issue for Canadians - looks like a perfectly predicted the problem. Then at some point he decided it's a problem with having.
Now he's on TV calling people who hold the same view he did last year 'racist' and 'bigots', which was confusing since approximately 30 minutes prior to seeing this I was watching a reporter live at the protest and noticed how the truckers seemed to include a bit of every ethnic group, and they had just interviewed a black Canadian trucker.
Yesterday he accused politicians of supporting neo-Nazis by supporting the trucker's 'freedom convoy', saying these politicians are "Standing with Swastikas'" - unaware that the politician he was responding to at the time was Jewish, whos family was put in concentration camps during the holocaust.
Regardless of this confusing backstory, Trudeau demands nothing but full compliance, saying the protestors must be "crushed". But as the insults and orders to crush them flow from the Prime Minister's mouth for the last week, he hasn't mentioned Covid even once - with all the arguing I forgot that 'Covid prevention' was supposedly the entire point.
"Crushing" The Protest...
Beginning yesterday "police liaisons" in yellow vests are going from truck to truck knocking on the doors and handing leaflets informing them they could be prosecuted, lose their licenses and see their vehicles seized under Canada’s Emergencies Act.
Also included in a ban on crowdfunding sites transferring raised funds to the protestors, freezing protesting trucker's personal bank accounts, and the thing that caught my eye - announcing a list of banned Bitcoin addresses.
“Pursuant to the Emergency Economic Measures Order, under subsection 19(1) of the Emergencies Act, there is a duty to cease facilitating any transactions pertaining to the following cryptocurrency addresses” the order stated.
It Looks Like The Protestors Made A Huge Mistake - "Not Your Wallet..."
...not your coins.
It appears the protestors used wallet addresses provided to them by Canadian based exchanges - while not fully confirmed the language used by Canadian officials describes 'freezing' accounts, sounding like the accounts were within their legal reach.
The terrifying part for many Canadians is how the government was able to use laws clearly intended for other purposes in an alarming power-grab.
No "money laundering" or "terrorism" has been observed, and officials have not even accused the protestors of either - yet laws meant to specifically address these crimes are what is being used to seize their assets.
Parking, and honking horns, causing traffic - I understand people frustrated or annoyed, but to say this qualifies as 'terrorism' would be ridiculous.
So - it looks like a hard lesson was learned here - had the protesters created their own Bitcoin wallets, with the keys saved somewhere only they knew, this is the stage the government would have failed.
Trudeau Says Not All Protesting It Bad, In fact There's Some He Supported Himself...
As he announced his goal of 'crushing' the trucker's protest, he pointed out that he's not "anti-protest" in general, saying "I have attended protests and rallies in the past when I agreed with the goals, when I supported the people expressing their concerns and their issues, Black Lives Matter is an excellent example of that."
While no deaths or damage to city property have occurred during the trucker's protest - he will never support protests such as the 'freedom convoy' - traffic jams cross a line he cannot accept.
He does however support protests such as BLM - no mention of the 25 people lost their lives during rioting, fires, and violence in city streets, with damages totaled over $1 billion.
I've honestly heard rational views from both sides, and I'm not ready to say I'm for or against the trucker's protest - I am however disappointed that the rational arguments are not coming from my Prime Minister.
Maybe if he explained how a year ago he held the same viewpoint as the protestors on vaccine mandates (and wasn't racist for doing so), then shared the things that made him change his mind, we would at least have a starting point to further the conversation.
Instead, we have both sides insisting that the other is evil, and will understand nothing but a show of force.
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By: Michael Cobb
Toronto Newsroom
Global Crypto Press Association
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