One of Canada’s top crypto exchanges, Coinsquare, has partnered with United States cryptocurrency payments startup Flexa to bring in-store digital currency payments to Canada. In-store crypto payments in Canada Canadian cryptocurrency exchange Coinsquare announced on Aug. 13 that it will work with U.S.-based crypto payments startup Flexa to expand its in-store crypto payment processing services to Canada. Coinsquare noted: “One of the biggest hurdles in mass adoption for crypto is finding a way to let users spend it. We are excited to bring Flexa's solution for this problem to #Canada.” Per the announcement, the exchange will also add Flexa’s spend …

A Canadian Bitcoin (BTC) educator has scammed a crypto scammer and subsequently donated the money to charity. As the Canadian Broadcasting Corporation reported on Aug. 7, Ben Perrin — a YouTuber who runs an education channel about cryptocurrencies and a marketing director at a Bitcoin exchange — received a scam message offering an investment scheme that would supposedly double his Bitcoin investment every 24 hours. Perrin told CBC News: "I've come across a lot of these people before, they make ridiculous claims. In this case, every 24 hours, they guaranteed me a doubling of my Bitcoin, and said that if …

Canada’s transcontinental railway, Canadian Pacific (CP), has joined the Blockchain in Transport Alliance (BiTA). CP announced its new membership in an official press release on July 31. According to the announcement, CP is looking to support improvements in supply chain technology through blockchain technology. BiTA says that by joining the group, CP is helping them to drive global supply chain interoperability. BiTA president Patrick Duffy also commented on the potential benefits of blockchain in the transportation sector, saying that the new tech “has the potential to smooth the transactions that occur between shippers and carriers, but it requires the active …

The Supreme Court of Nova Scotia, Canada, has approved over $1.6 million in fees for parties seeking funds from former Canadian cryptocurrency exchange QuadrigaCX, according to recently released court documents. Justice Darlene Jamieson ordered to approve the activities, fees and disbursements incurred by the Monitor — Big Four audit firm EY — in the ongoing proceedings of QuadrigaCX. The exchange ostensibly lost access to its cold wallet holdings following the death of its founder, Gerald Cotten, in December 2018, and now owes over $198.4 million to an estimated 115,000 users. Jamieson also approved the fees and disbursements of representative counsel, …

Initial coin offering (ICO) consultant CoinLaunch has agreed to pay $50,000 to the Ontario Securities Commission (OSC), according to documents published on the regulator’s website dated July 24. According to commercial litigator and former programmer Evan Thomas, CoinLaunch was consulted on two ICOs, BCZERO (raising funds for a Czech off-road truck racing team) and ECOREAL (raising funds for a Portuguese resort), both of which were found to be securities. CoinLaunch reportedly created the tokens, white papers and websites, advised on the sale structure and made introductions, including to crypto exchanges for listings. According to Thomas, the OSC found that the …

The Ontario Securities Commission (OSC) has reached a settlement agreement with the crypto firm CoinLaunch Corp as of July 22. According to an announcement by the OSC, there will be a public settlement hearing on July 24 to determine whether the agreement is in the public’s interest. As per the OSC’s official statement of allegations, CoinLaunch offered a number of crypto-related services, with securities trading among those. More specifically, the statement alleges that CoinLaunch offered to market and promote token offerings, including security tokens, without observing the proper registration requirements with the OSC. As such, the firm purportedly violated Ontario …

A group of Venezuelans has filed a lawsuit with a Florida Federal Court in connection with a Ponzi scheme. The scheme purportedly involved $30 million in cryptocurrency promoted by Canadian investment radio host Harold Seigel. Payment and commerce news outlet Pymnts.com reported today, July 16, that seven Venezuelans claim to have been lured into a $30 million worth digital currency Ponzi scheme conducted by companies such as Eagle Financial Diamond Group Inc. and Argyle Coin. The cryptocurrency involved into the fraud was reportedly pegged to diamonds. The frauds allegedly used raised funds to pay back earlier investors The plaintiffs accuse …

Canadian crypto solutions provider and trading platform operator Coinberry has struck its second municipal partnership to provide Bitcoin payments processing for property taxes. A press release published on July 15 revealed that Coinberry has begun negotiations with the City of Richmond Hill in the Greater Toronto Area. The news comes after the Council voted on July 10 in favor of cementing an agreement with Coinberry to support Bitcoin (BTC) property tax payments for residents and firms in its jurisdiction. The partnership represents Coinberry’s second municipal foray in less than six months, with the firm previously having implemented a crypto payments …

The Canadian Securities Administrators (CSA) are focusing on understanding and regulating distributed ledger technology (DLT) and its related components. The Canadian securities regulatory agency included a section on DLT and crypto assets in its Business Plan 2019–2022 that was published on July 13. The CSA’s business plan for 2018–2022 was approved on May 28, and represents a collaborative effort by the CSA to define its priorities over the next several years. Among a range of priorities such as fair and efficient markets, regulatory advancement and reduction of risks, the CSA also pointed out the need to consider the implications of …

Cryptocurrency exchanges in Canada will be legally required to register with the Financial Transactions and Reports Analysis Centre of Canada (FinTRAC) as of June 1, 2020, according to a notice published on July 10. This requirement will come into effect along with other amendments to Canada’s new Anti-Money Laundering (AML) laws next year. Crypto exchanges will also reportedly be required to observe Know Your Customer policies and report any suspicious transactions to the Canadian watchdog; this also includes keeping records of their clients and hiring a compliance officer for their platform. A report by The Globe and Mail notes that …

Canadian exchange Coinsquare has acquired software allowing traditional ATMs to sell cryptocurrency such as bitcoin (BTC), according to a press release on July 3. Coinsquare announced a controlling investment in Just Cash, a United States-based fintech startup that has developed a software that allows users to purchase crypto directly through traditional ATM machines without the need of additional hardware or mobile application. Following the investment of undisclosed amount, the Just Cash team will join Coinsquare in and operate under Coinsquare brand. Coinsquare CEO Cole Diamond says that the new initiative reflects the company’s mission of bringing mainstream adoption to the …

Canadian tech firm Graph Blockchain Inc. has partnered with the Ministry of Transportation in Seoul, South Korea, to run a pilot program for blockchain-based traffic data storage, according to a news release on June 24. Graph Blockchain reportedly signed a contract for around $55,000 CAD, or approximately $41,695 at press time, to run this pilot program as part of the “Smart City initiative.” According to the CEO of Graph Blockchain, Jeff Stevens, the company intends to use its blockchain solution to “streamline and protect” traffic data. Graph Blockchain purportedly uses the open source Hyperledger Fabric framework to develop its blockchain …