Canada | Crypto Profit Bot

Canadian border town suspends Bitcoin mining over aesthetic concerns

July 23, 2021

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City officials have imposed a three-month suspension on new Bitcoin mining operations to make roads and buildings more presentable. 6379 Total views 9 Total shares Massena, a town in New York along the border with Canada, has placed a temporary suspension on new Bitcoin (BTC) mining operations in the area. According to a report by […]

Study suggests Canadian CBDC could promote digital innovation within the country

July 20, 2021

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The Bank of Canada suggested that a Canadian CBDC could provide a number of innovations, including the elimination of transaction fees from debit and credit cards. 1777 Total views 6 Total shares A study released by Canada’s central bank, Banque du Canada, has noted a number of favorable reasons that the country could benefit from […]

Four North American Bitcoin miners that could benefit from the East-West shift

July 18, 2021

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Even before China finally wielded the ban hammer on crypto mining, Bitcoin (BTC) miners in North America had been building up their capacity amid efforts to gain a larger share of the global hash rate distribution. From building bigger data centers to acquiring hardware inventories, these establishments have been making concert efforts to balance the […]

Green BTC miner Bitfarms’ production up 50% after China ban, as Compass goes nuclear

July 15, 2021

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Publicly traded North American Bitcoin mining company, Bitfarms, has doubled its productivity this year amid the Chinese crackdown and resultant miner migration. The Canadian hydroelectricity mining outfit claims to be currently powering an estimated 1.5% of the entire Bitcoin network with more than 99% renewable green energy. In a July 14 production update, the firm […]

Binance faces regulatory upheaval as lawmakers target ‘global’ exchanges

June 29, 2021

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The world’s largest cryptocurrency trading platform, Binance, has faced regulatory upheaval over the past week as jurisdictions clamped down on the use of unauthorized exchanges and warned citizens against accessing them. For Binance, adopting the moniker of “global exchange” has done very little to appease regulators that require specific licenses to offer financial services to […]

Binance to cease operations in Ontario following regulatory crackdown

June 26, 2021

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Ontario’s crypto exchange crackdown continues as Binance plans to end operations Dec. 31, 2021. 9386 Total views 10 Total shares On the tails of a warning from Japanese regulators on Friday, Binance has announced in a short statement yesterday that it will cease providing services to users located in Ontario. “As part of our continuing […]

Crypto in Canada: Where are we today, and where are we heading?

June 26, 2021

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Digital currencies are quickly becoming more mainstream within the Canadian financial landscape. Alongside this increased adoption, Canada has been relatively successful at creating a stable regulatory environment. In 2014, Canada established itself as a leader in the global digital asset space when the Canadian Parliament became the first government in the world to pass a […]

Pro basketball league in Canada will offer players Bitcoin salaries

June 18, 2021

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“The ability to have part of my salary go directly into an investment that I believe will appreciate greatly over the next 10-30 years is a no-brainer,” said Guelph Nighthawks guard Kimbal Mackenzie. 3185 Total views 18 Total shares The Canadian Elite Basketball League will be allowing players from its seven teams to accept a […]

Bank of Canada: Crypto highly risky despite institutional adoption

May 21, 2021

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Crypto volatility is an emerging vulnerability to Canada’s financial system, while stablecoins pose risks for the country’s monetary system, the Bank of Canada said. 19979 Total views 23 Total shares Following a major cryptocurrency sell-off, Canada’s central bank stated that digital assets like Bitcoin (BTC) remain a highly risky asset despite their adoption by institutional […]

Canadian firm files final prospectus for Bitcoin ETF

April 29, 2021

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Subject to regulatory approval, the asset manager should convert its Bitcoin trust to an ETF starting next week. 1025 Total views 12 Total shares After putting the matter to a vote amongst the unitholders of its Bitcoin trust, Toronto-based investment manager Ninepoint Partners has filed its final prospectus for a Bitcoin exchange-traded fund. According to […]

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Category: Canada