Canada’s PM Announces $1.8B Allocation to Boost AI Sector
The Canadian government is allocating $1.76 billion (or 2.4 billion Canadian dollars) to advancing artificial intelligence (AI) and growing startups. To “secure Canada’s AI advantage,” the government launched new initiatives, including investments in medium-sized companies, startups, and research organizations. Canadian Prime Minister Justin Trudeau stated on April 7 that “the rapid advancement of generative AI […]
Coinbase Exchange Receives Restricted Dealer License in Canada
US-based cryptocurrency exchange Coinbase has obtained a restricted dealer license in Canada and now has two subsidiaries. According to a CNBC story from April 4, Coinbase has acquired a new license in Canada and is now registered as a restricted dealer with the Canadian Securities Administrators (CSA) in Ontario. According to CSA’s national registration statistics, […]
Canada-based Bitfarms Purchases Additional 51,908 ASICs
Bitfarms, a Bitcoin miner based in Canada, on March 11 acquired a total of 51,908 ASICs, including 28,000 Bitmain T21 ASIC miners, 19,280 Bitmain T21 miners, 3,888 Bitmain S21 miners, and 740 Bitmain S21 hydro miners. President and CEO of Bitfarms, Geoff Morphy , stated that the organization had acquired additional miners “before expected hardware […]
Crypto Sector Tops Canadian Fintech Industry for 2 Years
The number of investments in crypto and blockchain technology dominated the financial technology sector in Canada for the second year in a row, according to a report by the accountancy firm KPMG. KPMG published a report on Canadian fintech on February 6, emphasizing that despite substantial declines in transaction volumes and values in 2023, cryptocurrencies […]
CSA Proposes Amendments to Crypto Assets Investment Fund
The Canadian Securities Administrators (CSA) unveiled proposed amendments to regulations governing the treatment of crypto assets by public investment funds on January 18. In addition to establishing standards for custodianship, the proposed amendments currently under contemplation would restrict the crypto-related activities of public investment funds. The amendments would restrict crypto assets’ direct purchase, sale, and […]