Bitcoin 

Coinsquare Partners with FlexaHQ to Bring Crypto Payments to Canada

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 The official Twitter account of Canadian cryptocurrency exchange Coinsquare announced on August 13 that the firm partnered with U.S.-based crypto payments startup Flexa. The partnership will reportedly allow the latter company 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…

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Blockchain 

Accenture to Sign Blockchain ID Deal With Canada, Netherlands and Aviation Players

Global accounting giant Accenture will sign a formal deal with Canada, the Netherlands and other parties to use blockchain in identifying travelers. The company’s managing director of capital markets, David Treat, confirmed the move at the Synchronize Europe conference in London on June 18, attended by a Cointelegraph correspondent. Part of its expanding activities in the blockchain sector, Accenture will team up with the Canadian and Dutch governments, as well as Air France-KLM, Air Canada and several airports under a new agreement. Treat will personally ratify the deal, called “Known…

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Bitcoin 

Canada: Vancouver Mayor Suggests Ban on Bitcoin ATMs

The city of Vancouver, Canada, is considering banning bitcoin (BTC) automated teller machines (ATMs) due to money laundering issues, the Next Web reported on June 5. The mayor of Vancouver, Kennedy Stewart, has reportedly suggested a complete ban on bitcoin ATMs in connection with the increasing number of money laundering cases. A police report cited by the Next Web claim that criminals could purchase a bitcoin ATM for their own needs for a few thousand dollars, and then deposit their cash into that ATM “as many times as required” to…

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Bitcoin 

US Regulator Joins Canada in Fining Blockchain Firm CEO for Securities Act Violation

Blockchain entrepreneur Alex Tapscott has been fined $25,000 by the United States Securities and Exchange Commission (SEC,) according to a filing on May 14. Tapscott is the CEO of NextBlock Global, and in the filing, the SEC said neither the Canadian company nor its securities had ever been registered with the commission. The 33-year-old and his company have also been ordered to cease and desist from committing further violations of the Securities Act. According to the SEC, NextBlock was founded by Tapscott and three others in June 2017 for the purpose of investing…

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Blockchain 

Singapore and Canada Central Banks Complete First Cross-Border Blockchain Payment

The central banks of Singapore and Canada have successfully used their blockchain networks to send each other digital currency, a joint press release confirmed on May 2. As part of the distributed ledger technology (DLT) projects being pursued by both banks, the Monetary Authority of Singapore (BAS) sent funds to the Bank of Canada (BoC) without a third party. The process was made possible by linking up two DLT networks: MAS’ nascent Project Ubin platform and BoC’s Project Jasper. JPMorgan and accounting giant Accenture, which assisted in the development of…

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Bitcoin 

Canada Seizes $1.4 Million Bitcoin Holdings in Reportedly Largest Ever Forfeiture

A Toronto judge has ruled an online drug dealer must pay his entire $1.4 million Bitcoin (BTC) holdings to the state in what is reportedly Canada’s largest ever forfeiture, local daily news outlet The Star reported April 3. Matthew Phan, who dealt in illegal narcotics online, had tried to convince law enforcement he had amassed his 281.41 BTC (worth around $1.4 million at press time) through other activities. The court had sought to claim the stash in February, with Phan appealing against the demands, a process he has now appeared…

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Bitcoin 

Canada Revenue Agency Auditing Crypto Investors

The Canada Revenue Agency (CRA), the government’s tax collection service, is reportedly auditing investors in cryptocurrencies like Bitcoin (BTC), Forbes reports on March 6. Citing sources close to the matter, Forbes states that the CRA has sent extensive questionnaires to investors pertaining to their crypto-related activities in recent years. The questionnaires reportedly run 14 pages long with 54 questions and multiple sub-questions. The CRA told Forbes: “In order to protect the integrity of our risk assessment systems, we cannot comment on the specific information or criteria we use to select…

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Blockchain 

Canada Digital ID System Could Use Blockchain to Secure Data, Says Banking Executive

A Canadian banking group supports the idea of using blockchain technology as part of a digital ID system for residents, national news agency The Canadian Press reported via various local media outlets on Jan. 15. Speaking during a presentation at the Economic Club of Canada in Toronto, chief executive of the Canadian Bankers Association (CBA) Neil Parmenter said it was necessary for untamperable solutions to form the basis of ID procedures relating to the banking and finance sectors going forward. The comments come as Canada eyes the opportunities afforded by…

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