Bitfarms mined 21% more Bitcoin in June amid Riot takeover attempts
Bitfarms increased its online hashrate to 10.4 exahashes per second in June, marking a 39% month-on-month increase. Go to Source
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Bitfarms increased its online hashrate to 10.4 exahashes per second in June, marking a 39% month-on-month increase. Go to Source
3iq Digital Asset Management has announced that its solana fund has filed a preliminary prospectus for an initial public offering in Canada. The fund aims to become the first solana (SOL) exchange-traded product (ETP) in North America. Its objectives include providing exposure to the cryptocurrency, long-term capital appreciation, and staking yield. The Fund Seeks to … Read more
The cryptocurrency exchange announced plans to exit the Canadian market in 2023 but may still face enforcement action from local regulators. Go to Source
The Canada country director for Coinbase said local regulators were “much more collaborative” with the industry than their U.S. counterparts, but politicians were falling short. Go to Source
The European Central Bank announced cuts of 0.25% (or 25 basis points) on three of its main interest rates: the main refinancing operations, the marginal lending facility, and the deposit facility. President Christine Lagarde emphasized that future decisions regarding additional cuts will depend on market reactions and evolving data. European Central Bank Cuts Interest Rates … Read more
Bitcoin Well Inc., a non-custodial bitcoin platform, has announced the integration of the Lightning Network into its platform, enabling customers in Canada to instantly sell bitcoin from any personal Lightning Wallet. Bitcoin Well’s founder & CEO, Adam O’Brien, stated that this innovation enhances the speed, security, and cost-effectiveness of selling bitcoin, making it more user-friendly … Read more
Based on a report by the National Post, Canada’s Revenue Agency (CRA) is actively searching for uncollected taxes on cryptocurrencies. The agency estimates that there is nearly $40 million in undeclared taxes related to digital currencies. Concurrently, Prime Minister Justin Trudeau is proposing an increase in capital gains taxes from 50% to 66% for any … Read more
Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC) has imposed a fine of C$6 million on crypto exchange Binance for failing to comply with anti-money laundering and terrorist financing laws. This penalty, equivalent to approximately $4.4 million, was levied after Binance failed to register as a foreign money services business and neglected to report over … Read more
FINTRAC reported that Binance facilitated 5,902 separate transactions of $10,000 or more in crypto from June 2021 to July 2023 and failed to register with the regulator. Go to Source
Cryptocurrency exchange Binance is under legal pressure in Canada and the Philippines, while U.S. prosecutors are demanding 36 months in prison for Changpeng Zhao. Go to Source