Canada has reportedly paused its Central Bank Digital Currency (CBDC) project, which started in 2017. According to a September 18 CBC news story, following years of research into the potential for a digital version of the Canadian dollar, the local central bank has decided to move away from the initiative. Bank of Canada Rethinks Digital […]
Canadian asset manager 3iQ announced that it has filed a prospectus with the Ontario Securities Commission (OSC) to launch an exchange-traded product (ETP) on the Toronto Stock Exchange (TSX). If approved, the fund will be the first publicly traded Solana ETP in North America. 3iQ Files Prospectus for Solana Fund (QSOL) In a June 20 […]
Ontario’s self-styled ‘Crypto King,’ Aiden Pleterski, was arrested and accused of fraud and money laundering related to an alleged Ponzi scheme following one of the most extensive fraud investigations the region has witnessed. The 25-year-old, along with his associate, 27-year-old Colin Murphy, allegedly stole approximately $30 million from unsuspecting victims. Crypto King’s Arrest The charges […]
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 […]
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 […]
The province of British Columbia is taking proactive steps in its battle against financial crime, with the latest move targeting Michael Patry, the co-founder of the defunct Canadian largest crypto exchange, Quadriga CX. Mike Farnworth, Minister of Public Safety and Solicitor General, announced the filing of a third unexplained wealth order (UWO) with the British […]