BitFarms, a publicly-listed Bitcoin mining operation in Canada, has raised funds amounting to CAD $20 million from U.S-based institutional investors in its latest investment round. According to a press release shared with AMB Crypto, the company entered into subscription agreements with certain institutional investors via a private placement comprised of 8,888,889 common shares, along with...Read More
The Canada-based financial technology company Mogo plans to make an initial corporate investment of over $1 million in bitcoin and increase the amount next year. The crypto-friendly fintech firm has joined the recent trend of sizeable corporations that allocate funds in BTC. Mogo To Allocate 1.5% Of Its Assets In BTC The Vancouver-based fintech company...Read More
The forthcoming Crypto.com Visa cards for Canadian citizens are reportedly coming early next year and are considered another step in the country’s recent turn towards cryptocurrency adoption. Visa Cards For Canadians As Early As January 2021 The digital assets exchange and app Crypto.com has officially announced that citizens of Canada are now able to apply for...Read More
According to a recent announcement, Class A Units of 3iQ’s The Bitcoin Fund have begun trading in Canadian dollars on the Toronto Stock Exchange under the symbol “QBTC.” The trade was initiated on the 20th of October. This is a crucial development, with the importance of the same highlighted by Fred Pye, President & CEO...Read More
Bitcoin automated teller machines (BATMs) will become the next target for regulators, as world governments tighten screws on money laundering. According to Ciphertrace CTO John Jeffries, crypto-cash machines will attract “greater…regulatory focus” in a bid to rein-in alleged cross-border illicit financial transfers. Jeffries urged “the need for more uniform regulatory enforcement and compliance” as governments...Read More
Canadian tax authorities’ approach to crypto-assets might discourage the country’s citizens from using digital assets, as things like double taxation remain an issue. While the US still struggles to bring regulatory clarity to the world of cryptocurrencies, its neighbor, Canada, currently faces taxation issues. The country was quick to introduce crypto taxes as early as...Read More
The founder of now-defunct crypto exchange Quadrigacx may still be alive, even though he supposedly died in India about a year ago. A court-appointed law firm is seeking an answer on behalf of affected users. The firm has requested an exhumation and post-mortem autopsy in Canada of the body of Gerald Cotten, as some 76,000...Read More
What has been a fairly bad few weeks for cryptocurrency exchanges, just got a little worse? A Vancouver-based crypto trading platform, Einstein Exchange, has been closed by Candian authorities; while still owing $16 million in outstanding obligations. What Happened to Einstein? On Monday, the British Columbia Securities Commission (BCSC), provided a statement noting the “action...Read More
This ridiculously simple Bitcoin scam is stealing funds from crypto ATM users, using nothing more than a single piece of paper. | Source: Shutterstock Many devious scammers will go to extreme lengths to steal your hard-earned crypto funds. However, one Canadian fraudster devised a lucrative Bitcoin scam that’s decidedly more low-tech. It involves a single...Read More
Court proceedings against defunct Canadian Bitcoin exchange QuadrigaCX will focus on people in Ontario, say liquidators. EY: ‘Few Ties’ Keep Bitcoin Case In Nova Scotia In a court document filed this week, Ernst & Young (EY), the accounting giant acting as the exchange’s bankruptcy trustee, petitioned for a relocation of their case. Currently taking place...Read More
A Canadian judge has dismissed a motion to set aside an asset freeze in a civil forfeiture case involving the purported FUEL token. A Supreme Court judge in British Columbia (BC), Canada, has denied a motion to set aside an asset freeze, which was requested by the defendants in a multimillion dollar cryptocurrency fraud case....Read More
