Canada’s 3iQ Under Scrutiny For Misleading Solana ETF Claims
Canada’s 3iQ announced the start of a Solana ETP under the ticker “QSOL.” Analysts differed, saying the fund isn’t similar to an ETP or ETF. 3iQ Digital Asset Management has recently been scrutinized for marketing The Solana Fund (QSOL) as the first Solana exchange-traded product (ETP) in North America. The Solana fund, which has submitted […]
FTC Issues Warning Over Growing Crypto Romance Scams
The Federal Trade Commission (FTC) of the United States has issued a consumer warning regarding crypto romance scams online. The Federal Trade Commission (FTC) advised consumers to “sever all communication” with online romantic partners who may be attempting to fraudulently obtain their funds by employing cryptocurrency investments as a lure. These fraudsters implement long-term strategies, […]
Binance Receives $4.4M Fine for AML, CFT Violations in Canada
Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has imposed an administrative monetary penalty of $4.4 million on cryptocurrency exchange Binance. FINTRAC informed Binance Holdings Limited on May 9 that penalties had been levied in retaliation for the company’s failure to adhere to Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulations. […]
Binance Faces Class-action Lawsuit in Canada
Plaintiffs have filed a new class-action lawsuit against cryptocurrency exchange Binance in Canada, alleging that the company has violated local securities laws. On April 19, the Superior Court of Justice of Ontario issued a certification motion concerning a class-action lawsuit targeting Binance. The lawsuit charges Binance engaged in the unregistered sale of crypto derivative products […]
Canada’s British Columbia Sees To Cease Bitcoin Mining
In an effort to crack down on Bitcoin mining, British Columbia is considering amending the Utilities Commission Act, which could prohibit utility services. Despite the substantial advancements and expansion of the Bitcoin mining sector in the past year, the province of British Columbia in Canada chooses to look the other way. Legislators in British Columbia […]