The Jamaica Stock Exchange (JSE) has selected Canadian fintech company Blockstation to facilitate the trading of digital currencies and tokens on the JSE, according to an August 14 press release. Upon implementation of the project, JSE will provide trading, quotes, execution, and settlement services for cryptocurrencies and tokens. Kirk Brown, Head Trader for a broker member of the JSE, underlined the importance for investors “to be able to invest in digital assets through their traditional financial institutions.” Marlene Street Forrest, Managing Director of the JSE said: “We are very comfortable moving forward based on the training and support provided by …

Beverly Hills-based Playboy Enterprises is suing Canadian firm Global Blockchain Technologies (GBT), claiming that it failed to integrate blockchain technology into Playboy’s online media channels, the Los Angeles Times reported August 14. Playboy Enterprises reportedly filed a lawsuit in Los Angeles County Superior Court, accusing the Canadian company of fraud and breaching a contract, which the two companies drew in March. Per the terms of the agreement, GBT would integrate the Vice Industry Token (VIT) on Playboy’s media sites. Playboy said that the blockchain firm not only failed to fulfill the requirements, but also omitted a payment of $4 million …

Cryptocurrencies — what are they? Money? Commodities? Securities? Utility tokens? Or something else? Few national governments seem to be in any kind of agreement on this question, and for now, at least, their divisions have given such currencies as Bitcoin and Ethereum a floating, indeterminate status on the global stage. As a result, cryptocurrencies lack a single, definite existence, with some nations treating them as money (e.g., Japan, Germany) and others treating them as an unregulated, speculative asset (e.g., Mexico, Denmark), making them the financial equivalent of Schrödinger's cat. However, as this review of classifications of crypto throughout the world …

Shares in Mike Novogratz’s crypto-focused merchant bank plunged 20 percent during their trading debut on a major Canadian stock exchange Wednesday, August 1, CNBC reported. After opening at $2.75 Canadian dollars ($2.11 USD) apiece for their first ever listing on Toronto’s TSX Venture Exchange, shares in Galaxy Digital LP fell 20 percent in the first half hour of trading. Shares were down further to $1.98 CAD ($1.52 USD) as of 1:48 p.m. ET August 1, according to CNBC. Galaxy Digital LP is trading as ‘Galaxy Digital Holdings Ltd’ under the stock exchange’s GLXY ticker, slightly renamed after its founder, former …

Mike Novogratz’s crypto-focused merchant bank, Galaxy Digital LP, is set to begin trading on Canada’s TSX Venture Exchange on August 1, Bloomberg reports July 30. The New-York headquartered firm will reportedly trade on the TSX Venture Exchange through a separate vehicle, Galaxy Digital Holdings Ltd., under the GLXY ticker. For Galaxy’s founder, the former Goldman Sachs partner and crypto bull Mike Novogratz, the route to secure this week’s listing has been long-winded. Without the two years’ of audited financials required for a U.S. initial public offering (IPO), the fledgling bank opted for a so-called “reverse takeover” route by merging with …

Canada-based DMG Blockchain Solutions has launched the installation of an 85-megawatt substation for crypto mining expansion, according to an official statement July 26. The DMG crypto mining operation will be implemented on an industrial scale with direct support from the local government and electricity providers. DMG Blockchain Solutions is a multi-sector crypto and blockchain firm that manages and provides Bitcoin mining and hosting in addition to blockchain platform development. The flagship mining facility is set to become fully operational in September 2018 with 60 megawatts available for energizing mining rigs, and will reportedly be one the largest mining facilities in …

Canadian citizens used Bitcoin (BTC) mainly for investment purposes in 2017, according to a study by the Bank of Canada (BoC) published July 23. The study is an update to the results of the Bitcoin Omnibus Survey (BTCOS) conducted by Canada’s central bank within a short period between December 12 to 15, 2017, a few days before Bitcoin reached its all-time high of 20,000 on December 17. According to the survey results, Canadians have mainly used the major cryptocurrency for investment purposes in 2017, rather than for transactions, which previously had been cited as the main reason for dealing with …

The Bank of Canada (BoC) has published a study on the “incentive compatibility” of blockchain technology this week, finding that double spending is an “unrealistic” outcome. The new BoC study focuses on a proof-of-work (PoW) protocol for blockchain technology, modelling the behaviors of a “honest miner” and a “dishonest miner.” The Canadian bank’s researchers modelled a system to check whether a digital ledger like blockchain was immune to types of “cheating” such as double spending, when users change records in the ledger for their own gain. The study writes that the main innovation of a digital ledger technology like blockchain …

Toronto-based Bitcoin mining company Hut 8 has announced the completion of its second mining facility in Canada on July 16, claiming to have become the world’s “largest publicly-traded” operator by capacity. In a press release, Hut 8 revealed its Medicine Hat farm had been completed ahead of its September deadline, joining its existing operation in the city of Drumheller. Launched through a partnership with BitFury, which provided the company access to mining hardware and other necessities, Hut 8 has mined around 1,900 Bitcoin (BTC) since its original launch in December last year, the press release notes. BitFury and Hut 8’s …

The Large Credit Union Coalition (LCUC), a group comprising of the chief information officers (CIOs) of the 16 largest credit unions in Canada, has joined New York-based blockchain consortium R3, according to an announcement published July 17. The LCUC, whose corporate members include more than 3 million entities and represent over $125 billion in assets, has become a part of R3’s network of over 200 financial institutions, trade associations, and fintech companies in order to explore and integrate Corda. Corda is an open-source distributed ledger platform, designed to work within finance to operate complex transactions and restrict access to transaction …

Canada-based Rivemont Crypto Fund, run by a portfolio management firm Rivemont Investments, holds around 91 percent of its $2.3 million of assets in fiat currency, with only 9 percent in Bitcoin (BTC), Bloomberg reported July 17. The Rivemont Crypto Fund was founded in December 2017 and is reportedly the only actively managed cryptocurrency fund in Canada. The fund is registered with the Ontario Securities Commission, the Alberta Securities Commission, the British Columbia Securities Commission, and is allowed to trade such cryptocurrencies as BTC, Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH) and Ethereum Classic (ETC). The fund also plans …

The US Internal Revenue Service (IRS) has launched an international taskforce together with tax enforcement authorities from four other countries to take on cryptocurrency-enabled crimes, according to a press release published Monday, July 2. The new coalition, dubbed ‘The Joint Chiefs of Global Tax Enforcement,’ or ‘J5,’ comprises tax enforcement agencies from five countries in total –– Australia, Canada, the Netherlands, and the United Kingdom, alongside the U.S. As part of J5, the agencies will cooperate on intelligence and criminal investigations “to reduce the growing threat to tax administrations posed by cryptocurrencies and cybercrime,” as well as to target transnational …