Canada’s prime funding trade watchdog has rolled out a brand new algorithm geared toward tightening how crypto property are held and safeguarded, as regulators transfer to restrict losses linked to hacks, fraud, and weak governance. Key Takeaways: Canada launched new interim crypto custody guidelines to curb losses from hacks and fraud. Custodians now face tiered…
A 22-year-old Canadian crypto hacker who allegedly defrauded two DeFi protocols of $65 million has vanished from custody after being arrested in Serbia. Andean Medjedovic, a Hamilton native with a grasp’s diploma in pure arithmetic earned at age 18, now faces costs in a number of jurisdictions, together with his whereabouts remaining unknown. This week,…
Canada is transferring nearer to placing guidelines round stablecoins, and the Bank of Canada desires the guardrails tight. Governor Tiff Macklem said Tuesday that any future Canadian stablecoins ought to look and behave like dependable cash, not a speculative token with a promise hooked up. Macklem’s message was easy. If stablecoins are going to flow…
A courtroom in British Columbia has detailed the harrowing occasions of a violent house invasion in 2024 that noticed a Canadian household overwhelmed, waterboarded, sexually assaulted, and robbed of $1.6 million in cryptocurrency. The sentencing resolution, launched this month, outlines considered one of Canada’s most extreme “wrench assault” instances. Source: CanLII Attackers Posed as Canada…
Canada is getting ready to roll out its first complete framework for fiat-backed stablecoins below the 2025 federal price range, carefully mirroring the regulatory path taken by the United States earlier this yr. Key Takeaways: Canada will introduce its first federal framework for fiat-backed stablecoins below the 2025 price range, following the US mannequin. The…
Canadian province British Columbia has moved to ban new cryptocurrency mining tasks, tightening management over how its clear electrical energy is used and making certain the province’s huge hydroelectric energy advantages higher-value industries. The province’s vitality ministry said on Monday that BC Hydro, a government-owned utility, will not settle for new grid connection requests for…
Canada’s monetary intelligence company has fined the operator of KuCoin C$19.6 million (US$14.09 million), the biggest anti-money laundering penalty within the nation’s historical past. Key Takeaways: Canada’s FINTRAC fined KuCoin a report C$19.6 million for failing to adjust to anti-money laundering guidelines. The alternate is accused of neglecting to report practically 3,000 giant crypto transactions…
A Hamilton man already infamous for orchestrating one of many largest crypto thefts in Canadian historical past has been sentenced to a different yr behind bars in the US for a separate $1 million rip-off. Key Takeaways: The Canadian behind a report $48M crypto theft has been jailed once more in the US for a…
Canada’s latest altcoin exchange-traded funds have raced to class management, with the Solana-focused SOLQ crossing C$300 million in belongings underneath administration (AUM) and the XRP-focused XRPQ topping C$150 million, in accordance with a Tuesday announcement. The issuer said each funds now maintain the biggest AUM of their respective classes amongst Canadian friends, underscoring a pointy…
Canadian crypto infrastructure firm Luxxfolio has filed a preliminary shelf prospectus to lift as much as CAD$100 million ($73 million) because it deepens its Litecoin-focused technique and makes an attempt to stabilize its stability sheet. Key Takeaways: Luxxfolio filed to lift as much as $73 million because it deepens its Litecoin treasury technique. The corporate…