Wealthsimple Crypto, the first regulated cryptocurrency exchange in Canada, is rolling out its trading platform to the public today. Starting from Sept. 22, users in all 13 provinces and territories in Canada will be able to sign up for the new product and start trading cryptocurrencies. At the launch, Wealthsimple Crypto will allow users to buy and sell Bitcoin (BTC) and Ether (ETH) through the platform’s mobile app. Deposits and withdrawals can only be made in Canadian dollars, The public launch of Wealthsimple Crypto comes shortly after the company received regulatory approval from Canadian securities regulators on Aug. 7. To …

While other countries may be placing central bank digital currencies — also known as CBDCs — at the top of their agenda, Australia could buck the trend. According to a local news report on Sept. 17, the Reserve Bank of Australia's latest payments paper has taken a cautious and sceptical line toward CBDCs as well as private-sector stablecoins. The RBA does not believe there is currently a strong policy case for issuing a CBDC in Australia, pointing to the success of the country’s efficient, real-time New Payments Platform. Moreover, while the use of cash for transactions is broadly declining, Australians …

While it’s notable that some enterprises are beginning to deploy blockchain solutions this year, it’s important to point out that very few have done so. A report from Everest Group Research published in June shows that while 79% of projects have completed their pilot phases, only 7% have been deployed to production in 2020. That being said, it’s impressive that one of the world’s largest retailers has successfully deployed and implemented a blockchain solution. Walmart Canada has adopted DL Freight, a blockchain-based supply chain platform, as its national standard for freight invoices and payment management to be used among 60-plus …

European experts in cryptocurrency tax reporting are joining forces to enter markets in the United States and Canada. Blockpit, an Austria-based crypto compliance expert, has completed a merger with its German competitor CryptoTax, the firm announced on Sept. 8. Both focused on providing crypto tax reporting tools, Blockpit and CryptoTax will now be working together to expand to global jurisdictions like the U.S., Canada, Australia and the United Kingdom in 2021. Currently operating in Germany, Austria and Switzerland, Blockpit and CryptoTax are also planning to extend their European presence with the merger, Blockpit’s representatives said. Klaus Himmer, co-founder and managing …

The Canadian law firm representing creditors of the defunct crypto exchange QuadrigaCX has hired consultancy firm Kroll to advance its investigation into $190 million lost in user assets in early 2019. As reported, controversy has engulfed QuadrigaCX following the death of its founder, Gerald Cotten, in December 2018, who had purportedly been the sole person with access to the exchange’s cold wallet holdings. In a notice to creditors on Sept. 8, Miller Thomson said that Kroll will be working in collaboration with its strategic partner, Coinfirm, which specializes in blockchain forensics and anti-money laundering (AML) compliance. Coinfirm is the developer …

Taras Kulyk, Senior Vice President of Blockchain Business Development at Core Scientific, says that the countries competing to become leaders in the Blockchain space vary greatly in what they can offer to crypto miners. During an interview with Cointelegraph, Kulyk stated that global diversification of hashrate has been increasing as countries around the world vie for control of the crypto mining industry. Kulyk believes that China has been a desirable hub for crypto mining due to specific factors it enjoys, specifically the low cost of labor, access to units, and decreased cost of power during the rainy season, but he …

Waterloo, Ontario is the first Canadian city to issue a general warning after 78 residents were duped by crypto scammers in 2020. According to Global News, Waterloo residents have lost more than $430,000 so far this year, with 29 of the 78 falling victim in July alone. As previously reported, fraudsters have been impersonating government officials, asking victims to deposit money in various Bitcoin (BTC) ATMs under the threat of legal ramifications. Scammers told one resident that more than 25 bank accounts had been opened under his name, and then used to launder money. He was instructed to deposit over …

BitMEX, one of the world’s largest Bitcoin (BTC) trading platforms, is now officially restricted to operate within at least two Canadian provinces. Following a request from the Ontario Securities Commission (OSC), BitMEX will be soon limiting the access to its platform by Canadian investors from Ontario province. A representative at the OSC told Cointelegraph that BitMEX held no regulatory approval to operate in Ontario. “BitMEX is not registered or recognized in any capacity in Ontario,” the spokesperson said. The representative said that BitMEX agreed to restrict Ontario investors from accessing the platform following discussions with the regulator. The OSC’s statement …

A Canada-based Middle Eastern restaurant chain just converted their entire fiat cash reserves into Bitcoin. According to an Aug. 19 tweet from Tahini’s — ‘the best Middle Eastern restaurant in the world’ — the decision to switch its cash reserves to crypto had its genesis in March’s crash, and when the Canadian government began to provide assistance programs for businesses unable to stay open due to the pandemic. With the United States and Canada printing money to prop up their ailing economies, Tahini’s owner Omar Hamam started to see the financial system as “a game of musical chairs being played …

Gemini, a major cryptocurrency exchange founded by the Winklevoss brothers, has just added support for three new fiat currencies on its platform. According to an official announcement on Aug. 17, Gemini now allows users to trade in the Hong Kong dollar (HKD), the Australian dollar (AUD), and the Canadian dollar (CAD). The three new fiat currencies come in addition to the United States dollar, allowing Gemini users in Hong Kong, Australia, and Canada to buy and sell crypto with native currencies. However, HKD, AUD, and CAD are currently not offered through Gemini’s crypto trading platform known as the Active Trader …

Over the course of the past few years, the cryptocurrency mining sector has started to gain a lot of mainstream financial traction. For example, market research firm Technavio recently released startling data claiming that the global mining hardware market is all set to grow by a whopping $2.8 billion between 2020 and 2024. This incredible surge was attributed to the rising popularity of mining pools, most of which are currently concentrated in China. Not only that, over the course of the past few months, companies like Btc.top have been seeking to redefine the concept of Bitcoin (BTC) acquisition, for example, …

When Bitwise Asset Management declared in a March 2019 presentation to the United States Securities and Exchange Commission that 95% of the Bitcoin (BTC) trading volume being reported globally on cryptocurrency exchanges was “fake,” it jolted rating firms, exchanges and the larger crypto world. Data analytics firms recalibrated their exchange ranking metrics, and some assumed it was just a matter of time before wash trading was curtailed if not eliminated. But wash trading was back in the news last week when the CEO, president and chief operating officer of Canadian crypto exchange Coinsquare were all forced to step down after …