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Bank of Canada Redirects Efforts Away From Retail CBDC

Bitcoin.com
Bank of Canada Redirects Efforts Away From Retail CBDC
Bank of Canada
Bank of Canada Redirects Efforts Away From Retail CBDCThe 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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XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

Exchanges gear up crypto advocacy in Canada as elections loom

Coin Telegraph
Exchanges gear up crypto advocacy in Canada as elections loom
Canada

Cointelegraph’s Sam Bourgi discussed Canada’s evolving regulatory landscape with Kraken and Coinbase at the Blockchain Futurist Conference, highlighting areas where the country still lags.

Canada has been actively developing and refining its regulatory framework for digital assets over the previous years, positioning itself ahead of leading markets worldwide, such as the United States. However, crypto exchanges are still lobbying for more cooperation with leaders as the 2025 elections approach in the country. 

Cointelegraph’s senior editor, Sam Bourgi, discussed with Kraken and Coinbase during the Blockchain Futurist Conference how the local regulatory space is evolving and where the country is still lagging behind.

“The reality is that members of parliament today in Canada are not hearing from their constituents about the importance of digital assets and cryptocurrencies,” explained Coinbase’s CEO for Canada, Lucas Matheson.

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XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

Crypto Exchange Founder Accused of Gambling Away User Funds on Betting Sites, Losing $9,500,000

The Daily Hodl
Crypto Exchange Founder Accused of Gambling Away User Funds on Betting Sites, Losing ,500,000
Canada
Crypto Exchange Founder Accused of Gambling Away User Funds on Betting Sites, Losing ,500,000

A securities regulator in Canada has charged the head of a crypto exchange with gambling users’ crypto. According to a new official decision from the British Columbia Securities Commission (BCSC), crypto exchange ezBtc founder David Smillie used CAD $13 million ($9.48 million) in customer funds for online gambling. “The respondents perpetrated a fraudulent scheme relating […]

The post Crypto Exchange Founder Accused of Gambling Away User Funds on Betting Sites, Losing $9,500,000 appeared first on The Daily Hodl.

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XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

Canada needs to overhaul crypto regulations — Coinbase exec

Coin Telegraph
Canada needs to overhaul crypto regulations — Coinbase exec
Canada

The Canadian government has previously come under fire for undermining the economic freedom of its citizens and freezing crypto donations.

Coinbase country director for Canada Lucas Matheson took the stage at the Blockchain Futurist Conference on Aug. 13 to discuss the state of Canadian digital asset regulation and promote the newly expanded Stand With Crypto initiative.

Matheson argued that although Canada’s regulatory framework is already robust, the country still needs to modernize crypto regulation.

The director noted that 85% of countries will be adopting comprehensive regulatory frameworks for digital assets over the next year and urged the importance of public dialogue in educating public officials about the importance of cryptocurrencies. Coinbase’s Canadian director summed up the long-term goal for Stand With Crypto’s advocacy:

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XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

Canadian crypto exchanges face deadline for CIRO membership

Coin Telegraph
Canadian crypto exchanges face deadline for CIRO membership
Canada

Crypto traders have been on interim rules since March 2021, and it’s time to finalize membership in the securities industry's self-regulatory organization.

Crypto trading platforms (CTPs) in Canada are running out of time to get their paperwork in to become full-fledged investment dealers and members of the Canadian securities industry’s self-regulatory organization, the Canadian Investment Regulatory Organization (CIRO) and Canadian Securities Administrators (CSA) reminded their crypto colleagues in a news release.

CTPs facilitate trading of crypto asset securities, derivatives, instruments or contracts. Under a staff notice released in March 2021, CTPs were allowed an interim period during which they could operate as restricted dealers while they worked on obtaining mandatory CIRO membership. Now the time is coming for CTPs to join CIRO finally and conform to its rules, the regulators say:

New CTPs will not be given an interim period before CIRO membership, they added. In addition to obtaining CIRO membership, CTPs are required to register in individual jurisdictions. There are currently 15 CTPs.

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XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

ARK buys $21M of 3iQ Ether staking ETF, dumps $14.6M of Coinbase stock

Coin Telegraph
ARK buys M of 3iQ Ether staking ETF, dumps .6M of Coinbase stock
3iq

Cathie Wood’s ARK has resumed active trading of crypto-related stocks like Coinbase, 3iQ Ether staking ETF, Robinhood and its own spot Bitcoin ETF.

Cryptocurrency-related trades are again gathering steam at Cathie Wood’s investment firm ARK Invest as it returned to trading tens of millions of dollars in crypto-related stocks and exchange-traded funds (ETF) in one day.

After resuming significant sales of Coinbase stock in July, ARK increased it’s sales selling in August, dumping 69,069 Coinbase shares on Aug. 1, according to trading data seen by Cointelegraph. Based on the stock’s closing price, the amount is worth $14.7 million, according to data from TradingView.

The transaction is ARK’s biggest Coinbase sale since early April and late March when the firm dumped around 60,000 Coinbase shares daily.

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XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

Global Crypto Advocacy Movement Reaches Canada

Bitcoin.com
Global Crypto Advocacy Movement Reaches Canada
bitcoin.com
Global Crypto Advocacy Movement Reaches CanadaStand 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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XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

Bitfarms calls October shareholder meeting amid attempted Riot takeover

Coin Telegraph
Bitfarms calls October shareholder meeting amid attempted Riot takeover
Bitcoin mining

Riot Platforms holds just under a 15% stake in Canadian mining firm Bitfarms and hopes to replace key board members with picks seeming favorable to its interests.

Cryptocurrency mining firm Bitfarms has scheduled a shareholder meeting in response to a request from Riot Platforms — the firm attempting a corporate takeover of Bitfarms.

In a July 12 notice, Bitfarms’ board said it would hold a shareholder meeting on Oct. 29 following claims Riot plans to “disrupt the strategic alternatives review process” the mining firm started. In May, Riot offered $950 million to acquire Bitfarms but has met resistance from the company, which is employing various tactics to impede the takeover.

After Bitfarms implemented a strategy to prevent Riot from acquiring a 15% or higher stake in the firm, Riot launched a campaign to replace three of the mining company’s board of directors with candidates seemingly friendly to its interests. Former Bitfarms CEO Geoffrey Morphy stepped down in May after filing a $27-million lawsuit against the firm. Nicolas Bonta acted as the interim CEO until Ben Gagnon’s appointment on July 8.

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XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

Coinbase’s Stand With Crypto initiative to launch in Canada

Coin Telegraph
Coinbase’s Stand With Crypto initiative to launch in Canada
Canada

The group hinted at advocating for crypto regulation in Canada and updating the country’s financial system, as residents had an “appetite” for change.

Cryptocurrency exchange Coinbase’s project advocating digital asset regulation will expand to Canada after launching initiatives in the United States and the United Kingdom.

In an announcement shared with Cointelegraph, a Coinbase spokesperson said the exchange would launch its Stand With Crypto Canada campaign on July 12 to educate Canadians about crypto and blockchain. The spokesperson hinted that Coinbase would use the initiative to “deepen [policymakers’] understanding of the opportunities presented by emerging technologies like blockchain.”

The US Stand With Crypto initiative lists the pro- and anti-crypto statements many prospective candidates for federal, state, and local offices have made. The project also launched a political action committee in May to support candidates in the 2024 election.

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XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

Bitfarms mined 21% more Bitcoin in June amid Riot takeover attempts

Coin Telegraph
Bitfarms mined 21% more Bitcoin in June amid Riot takeover attempts
bitcoin production

Bitfarms increased its online hashrate to 10.4 exahashes per second in June, marking a 39% month-on-month increase.

Bitcoin miner Bitfarms upped its month-on-month Bitcoin (BTC) production by 21% in June whilst fending off attempts of a company takeover by Riot Platforms, one of its biggest competitors.

Bitfarms mined 189 Bitcoin in the month and sold 134 of those Bitcoins for $8.8 million, the firm revealed in a July 1 statement. It now holds 905 Bitcoin, worth $57 million, in its treasury.

However, its Bitcoin production fell 51% compared to June, 2023, due to the latest halving event slicing the block subsidy by 50%.

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XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

XRP Skyrockets 280% as Ripple Rides ETF Surge and Regulatory Shifts

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