Tag Archives: canada

Canada has imposed a fine against Binance – the world’s largest crypto exchange – for running afoul of the nation’s anti-money laundering rules last year. Per a public notice published on Thursday, the federal government said Binance didn’t comply with rules and registrations related to operating as a foreign money services business (FMSB). Binance Fined $4.4 Million By Canada The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) wrote: “Binance Holdings...

Institutional investors in Canada substantially increased their cryptocurrency exposure last year compared to the previous bull market cycle, according to a recent survey by accounting firm KPMG. The consulting group’s bi-annual survey, “Institutional Adoption of Cryptoassets,” received 65 responses, including 31 institutional investors managing over $500 million in assets and 34 financial services organizations. Institutional Interest in Crypto Assets Surged in 2023 In its...

During the pandemic, a new mandate requiring Canadian truckers that carried out trips across the border into the United States to receive the COVID-19 vaccine was wildly unpopular, resulting in what was known as the “Freedom Convoy” protest. Following a decision to protest the measure, truckers blocked the streets of Ottawa with their trucks and were supported in doing so by a significant amount of people both in Canada and abroad. Turning to Crypto Funding In order to...

Catalyx, a crypto trading platform based in Canada, suffered a security breach that resulted in the loss of customer funds in its custody. While the exact value of the loss is not mentioned, the platform has halted crypto and fiat withdrawals amid ongoing investigations. Catalyx Suspends Trading and Withdrawals CatalX CTS, the operator of Catalyx, announced the incident in a press release, stating that the breach likely involved an employee. The company investigating the...

Although far behind the United States in terms of revenue and the number of users, the UK crypto industry maintains a strong pace of growth, growing much faster than the world’s largest crypto market. According to data presented by AltIndex.com, the UK crypto industry grossed $1.9bn this year, showing a massive 137% year-over-year growth. This figure is expected to double and hit $3.77bn by 2027. The Fastest-Growing Crypto Industry Among the Top Five Markets Over the years, the United Kingdom...

A recent study indicates that Canadians’ enthusiasm for crypto investment has diminished in comparison to the previous year. Moreover, they are now less inclined to perceive crypto as a significant factor in the current economy or anticipate its future importance. On November 29, the OSC released its “Crypto Assets Survey 2023,” conducted in collaboration with Ipsos in late May. The survey, which included 2,360 Canadians representing a proportional cross-section of the...

Canadians are overwhelmingly opposed to their central bank researching and issuing a digital loonie, according to newly released survey results from the Bank of Canada. The report found that citizens and stakeholders are worried that the technology could violate their financial privacy, and wouldn’t be their payment method of choice compared to existing options. Why Canadians Don’t Like CBDCs Released on Wednesday, the report dissected results from a public consultation on...

The Calgary Police Service issued a warning to residents to beware of fraudsters who promise high returns on crypto investments, noting that Calgary victims have lost more than $22 million mostly to investment scams so far in 2023. Meanwhile, authorities believe crypto scams are still underreported despite huge losses. Calgary Police Receive More Crypto Scam Reports in 2023 Residents in the city of Calgary, Alberta, Canada, have lost over $22.5 million to crypto-related scams...

Bitstamp’s CEO, Bobby Zagotta, announced that the firm will be discontinuing its services to customers in Canada. The decision is set to take effect on January 8, 2024, and comes after Bitstamp informed its Canadian customers of the impending change back in March. Bitstamp to Exit the Canadian Market Bobby Zagotta, the U.S. CEO and Global Chief Commercial Officer at Bitstamp, issued a statement regarding the development. He expressed the company’s gratitude towards its...

In a landmark development for the Canadian digital assets market, TMX Group, the largest exchange in the country, is set to launch Bitcoin (BTC) futures contracts on its derivatives trading platform. As per reports, Montréal Exchange’s (MX) move to launch a Bitcoin Price Index Futures is in response to the growing market demand for this new class of assets. Bitcoin Futures Trading in Canada The announcement from the popular exchange starts by saying, “Montréal Exchange (MX)...