The Canadian Securities Administrators (CSA), the council of Canada's provincial and territorial securities regulators, on Dec. 13 issued an update to crypto trading platforms operating in the country. The CSA said that the authority has been reinforcing its approach to the supervision of crypto trading platforms by expanding existing requirements. According to the statement, all crypto trading firms operating in Canada — both local and foreign ones — have to comply with newly expanded terms, which ban them from offering margin or leverage trading services to any Canadian clients. The expanded terms also require crypto exchange services providers in Canada …

Crypto tax firm Koinly announced cuts of up to 14% of its global team in response to the “intensifying bear market” — but many employees have pushed back against this narrative. In a Dec. 6 announcement, Koinly founder and CEO Robin Singh said the crypto market downturn coupled with fewer people reporting crypto on their tax returns had contributed to the company deciding to let go of 14% of its team. However, several staff members who spoke to Cointelegraph on the condition of anonymity said the cuts had affected many more people at Koinly and were unprofessionally executed. According to …

A member of the Iranian parliament has told local media the government plans to impose new punishments on women who do not wear a hijab in public, with individuals who refuse to comply after two warnings possibly having their bank accounts frozen. Hossein Jalali, a member of the Cultural Commission of the Islamic Consultative Assembly, told Iranian media on Dec. 6 that “unveiled persons” would be sent an SMS urging them to respect the law and wear a hijab before entering a “warning phase” and finally having their bank account potentially frozen. "In the third stage, the bank account of …

In October, Toronto-based Coinsquare became the first crypto trading business to get dealer registration from the Investment Industry Regulatory Organization of Canada (IIROC). That means a lot as now Coinsquare investors’ funds enjoy the security of the Canadian Investment Protection Fund in the event of insolvency, while the exchange is required to report its financial standing regularly. This news reminds us about the peculiarities of Canadian regulation of crypto. While the country still holds a rather tight process of licensing the virtual asset providers, it outpaces the neighboring United States in its experiments with crypto exchange-traded funds (ETFs), pension funds’ …

Just a month after becoming the first Canadian crypto trading platform to get registered by the Investment Industry Regulatory Organization of Canada (IIROC), Coinsquare suffered a data breach that compromised users' personal information. On Nov. 19, Coinsquare had to temporarily shut down operations to investigate an unusual activity on its platform. However, several days of proactive measures allowed Coinsquare to resume operations gradually. We will be re-enabling crypto deposits shortly after the maintenance window with crypto withdrawals to follow shortly after. — Coinsquare (@Coinsquare) November 22, 2022 In a follow-up email to investors, Coinsquare admitted that their customer database with …

Purchasing cryptocurrencies like Bitcoin (BTC), Dogecoin (DOGE) or Ether (ETH) in Canada is on an upsurge as crypto ownership rises. Moreover, the Ontario Securities Commission, in their report, stated that more than 30% of Canadians plan to buy crypto assets in 2023. So, if you are wondering how to buy Bitcoin or crypto in Canada, then read on and familiarize yourself with the details. Is it legal to buy cryptocurrency in Canada? Cryptocurrency trading is legal in Canada even though it is not yet considered a legal tender. Canada Revenue Agency (CRA) specifies what virtual currencies are and provides information …

Australian Bitcoin mining firm Iris Energy is the latest to suffer from the squeeze of the crypto bear market, losing a significant chunk of its mining power after defaulting on a loan. A filing by the firm to the U.S. Securities and Exchange Commission on Nov. 21 revealed that it has unplugged its hardware used as collateral in a $107.8 million loan as of Nov. 18. The units “produce insufficient cash flow to service their respective debt financing obligations,” the firm noted. The operation generates around $2 million in Bitcoin gross profit per month but cannot cover the $7 million …

The Canadian cryptocurrency exchange Bitvo has terminated its expected acquisition agreement with FTX to continue operating independently. Bitvo’s shareholder, Pateno Payments, has discontinued the acquisition deal with FTX Canada and FTX Trading in accordance with the agreement terms, Bitvo announced on Nov. 15. The firm emphasized that its operations have not been affected as Bitvo has no material exposure to FTX or any of its affiliated entities. Bitvo trading operations, including withdrawals and deposits, are intact. Bitvo also stressed that it’s not party to the bankruptcy proceedings entered into by FTX and its affiliated entities. Bitvo has also never owned, …

The Canadian federal government is set to launch a consultation on cryptocurrencies, stablecoins, and Central Bank Digital Currencies (CBDCs) as revealed in its new mini-budget. The government's “2022 Fall Economic Statement” released on Nov. 3 by Deputy Prime Minister Chrystia Freeland works as a fiscal update in conjunction with its main yearly budget. The statement included a small section on “Addressing the Digitalization of Money” that outlined the government’s crypto plans. It said the rise in cryptocurrencies and money digitalization is “transforming financial systems in Canada and around the world” and the country’s financial system regulation “needs to keep pace.” …

Hydro-Québec, the firm managing electricity across the Canadian province of Quebec, plans to reallocate energy supplied to crypto mining firms. According to a Nov. 3 tweet from Canadian lawmaker Pierre Fitzgibbon, the government will request a decree from the energy board to release the company from its obligation to power crypto miners in the province. Hydro-Québec allocated 270 megawatts toward the mining firms, but electricity demand in Québec is expected to grow to a point that powering crypto will put pressure on the energy supplier. The report Hydro-Québec filed with the government’s energy board on Nov. 1 said temporarily reducing …

U.S. investors have been waiting for a Bitcoin exchange-traded fund (ETF) approval since May 2014 when the Winklevoss Bitcoin Trust filed an amendment request at the Securities and Exchange (SEC). Over the years, the SEC has rejected every applicant and the latest denial was issued to WisdomTree’s application for a spot Bitcoin ETF on Oct. 11. The SEC concluded that the offer did not have the ability “to obtain information necessary to detect, investigate, and deter fraud and market manipulation, as well as violations of exchange rules and applicable federal securities laws and rules.” Bitcoin investment trust vehicles have existed …

Coinsquare, Canada's longest-operating crypto asset trading platform, announced Wednesday that the Investment Industry Regulatory Organization of Canada (IIROC) had approved its dealer registration and IIROC membership. This regulatory status will now position Coinsquare as the first crypto-only IIROC-registered investment dealer and marketplace member in Canada. The Coinsquare team wrote: "In dealing with an IIROC registrant, Coinsquare clients now have the added comfort and security of knowing that Coinsquare is operating at the highest level of dealer compliance and oversight under the existing regulatory system." With the regulation, Coinsquare's client funds will be fully segregated and kept by licensed and insured …