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Kraken opposes Canadian regulators’ proposed changes to crypto asset laws

Canadian cryptocurrency exchange Kraken has criticised regulations the Canadian Securities Administrators and the Investment Industry Regulatory Organization of Canada have proposed. According to the exchange, proposed regulations characterise the contract between an exchange and an exchange user as security. Kraken states it is crucial regulators…

Weekly roundup May 6 – May 10

This week bitcoin’s price carried on toward new yearly highs as price interest increased. Other headlines from the week include a Binance hack, Fidelity BTC trading, a Bitfinex IEO and more. Catch up on this week! Fidelity goes all in crypto, Bitfinex to launch an…

Mining company notes $136 million in losses for 2018

Canadian cryptocurrency mining company Hut 8 has recorded $136 million losses in 2018, according to its annual earnings report. The losses were incurred despite Hut 8’s boasts of “record” revenue—it earned $49.4 million from mining 5,592 bitcoins. Hut 8’s adjusted EBITDA (Earnings before Interest, Taxes,…

Blockchain adoption: Canada, Russia, and Starbucks to use distributed ledger tech

Banking with Blockchain Canadian banks are taking a big step towards modernization as they deploy a blockchain-based user identification system. Verified.Me, a digital identity system developed by SecureKey Technologies Inc., is now available through a mobile app to clients of Royal Bank of Canada, Toronto-Dominion…

Québec Allocates 300 MW Energy Quota for Crypto Mining

Québec, the resource-rich Canadian province, has made up its mind about cryptocurrency mining. Régie de l’énergie, the region’s energy regulator, has rendered its decision on the blockchain sector and lifted the moratorium on electricity supplies. An additional 300 MW of energy will be allocated to…

Crypto Payments Pilot Between Canada And Singapore Successfully Conducted

Crypto payments pilot test between the Bank of Canada and the Monetary Authority of Singapore was successfully conducted of the central bank-backed crypto assets. The cross-border payments are great news that we are reading more about in the latest cryptocurrency news. The statement of the…

Central banks trial the use of blockchain for cross-border payments

The Bank of Canada and Monetary Authority of Singapore (MAS) have announced they have carried out digital currency transfers using blockchain technology.  “The world of cross-border payments is complicated and expensive. Our exploratory journey into the use of DLT to try to reduce some of…

94% of Surveyed Endowment Funds are Allocating to Crypto Investments: Study

94% of endowments have been allocating to crypto-related investments throughout 2018, a new survey reveals. 94% of endowments have been allocating to crypto-related investments throughout 2018, a new survey published on April 12 reveals. The study was conducted in Q4 2018 by trade publications Global…

Canadian Crypto Exchange QuadrigaCX Officially Declared Bankrupt

Canada’s major cryptocurrency exchange QuadrigaCX has been officially declared bankrupt. Canada’s major cryptocurrency exchange QuadrigaCX has been officially declared bankrupt, local media outlet CBC reported on April 8. Quadriga’s bankruptcy was reportedly approved today by Nova Scotia Supreme Court Justice Michael Wood, and follows the…