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Innisfil Becomes First City in Canada to Accept Bitcoin for Municipal Taxes

March 29, 2019 By Mark Lyford Leave a Comment

Ohio might have made history as the first state to accept cryptocurrency for corporate taxes, but one Canadian town is adding its name to the books by becoming the first in North America to permit its citizens to pay their personal taxes in bitcoin.

The tiny town of Innisfil (with a population of 36,500), situated about 45 minutes north of Toronto, just approved an initiative that will allow its residents to satisfy their municipal taxes (income taxes and property taxes) in bitcoin, beginning in April 2019. Read more...

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Bitcoin Cash Clothing Charity Expands to a Dozen Cities Across Canada

February 5, 2019 By Mark Lyford Leave a Comment

Coins 4 Clothes, a cryptocurrency charity that rewards people with bitcoin cash (BCH) for donating gently used items of clothing, has announced the expansion of the organization to a dozen cities across Canada, exactly a year after it was first launched.

Also Read: The Daily: Twitter CEO Talks Bitcoin, Bitstamp Releases New Mobile App

Helping People From Toronto to Vancouver

The Toronto-headquartered organization Coins 4 Clothes is now also operating in Hamilton, Oakville, Vancouver, Whistler, Montreal, Quebec City, Calgary, Red Deer, Edmonton, Winnipeg, and Saskatoon. The group announced that people who live in any one of these cities can browse through local charitable options on its website which the team has audited to ensure they use donations responsibly and that the clothes are really going to those who need the support. Read more...

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Elections Canada Consults With Political Parties on Crypto Donations

January 23, 2019 By Mark Lyford Leave a Comment

According to Elections Canada, the agency that runs federal elections in Canada, there has been “a growing interest” in cryptocurrency donations. This trend has prompted some political parties to ask for a ruling on how best to manage bitcoin and other cryptocurrency political donations and how to navigate the various reporting systems required by both Elections Canada and the parties so that they comply with the Canada Elections Act.

Election season is just beginning in Canada. There are three federal by-elections called for February 25, 2019; these will fill vacant seats, including a seat for one of the party leaders. A full federal election will be called before October 21, 2019. Read more...

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Energy Incentives Make Bitcoin Mining a Natural Fit for B.C., Canada

December 21, 2018 By Mark Lyford Leave a Comment

When it comes to bitcoin mining, Canada is a natural.

A temperate climate helps to keep mining equipment cool, and plentiful renewable energy from hydroelectric dams gives Canadian provinces like British Columbia a natural advantage with cheaper electricity costs.

B.C. is sitting on a large surplus of hydroelectric energy, as depleted resources have resulted in the closures of many pulp and paper mills and traditional mines. The power surplus is also a result of the success of alternative energy and energy conservation initiatives. Read more...

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Bitcoin Bomb Threats Target Educational Institutions, Businesses and Govt. Buildings in US, Canada

December 15, 2018 By Mark Lyford Leave a Comment

Hundreds of government buildings, schools and businesses in the United States and Canada were on Thursday targets of extortionists who threatened to detonate explosives unless they were paid thousands of dollars in bitcoin. In most of the emailed bomb threats, the sender claimed that they had an associate who had planted an explosive device at

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Israeli Crypto Mining Firm Files for IPO in Canada

November 19, 2018 By Mark Lyford Leave a Comment

Israeli cryptocurrency mining company Bitfarms wants to become a public company in Canada. According to its press release, the mining company revealed that it had filed a preliminary prospectus with the Ontario Securities Commission, as it commences with the regulatory process for offering public shares on the Toronto Stock Exchange. Bitfarms, the crypto mining farm

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Central Banks of Canada, Singapore and UK Propose CBDCs for Cross-Border Payments

November 16, 2018 By Mark Lyford Leave a Comment

The reserve banks of Canada, Singapore and the United Kingdom have singled out central bank digital currencies as being one of the solutions that can be implemented in order to solve the challenges encountered when making cross-border payments. The report by the Monetary Authority of Singapore, Bank of England and Bank of Canada notes that

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What Bear Market? Major Bitcoin Mining Farm Goes Live in Canada

November 12, 2018 By Mark Lyford Leave a Comment

The bitcoin mining facility that DMG Blockchain Solutions announced it was building in British Columbia, Canada in July is now operational. Though the full capacity of the facility is 85 megawatts, initially only 60 megawatts will be made available at the operation that occupies 27,000 sq. ft. The power that the Mining as a Service

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Bank of Canada Estimates 5% of Canadians Own Bitcoin

October 26, 2018 By Mark Lyford Leave a Comment

Data from the Bank of Canada and the Ontario Securities Commission has revealed that bitcoin adoption and general crypto awareness in Canada is growing steadily, with the percentage of Canadian poll respondents who own bitcoin rising from 2.9 percent in 2016 to 5 percent in 2017. According to a recently released report by the Bank

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Bitcoin Mutual Fund CEO Explains Why Canada is More Blockchain-Friendly than the U.S.

September 25, 2018 By Mark Lyford Leave a Comment

Canada has set the pace as the first government to ever approve an exclusive bitcoin mutual fund. This builds upon its reputation as a friendly environment for emerging technologies. The atmosphere in Canada seems to be freer and more conducive to innovation in this field, based on the numerous developments that the industry has experienced

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Canada to Study Cannabis Cryptomarkets Ahead of Recreational Marijuana Legalization

September 22, 2018 By Mark Lyford Leave a Comment

As Canada prepares to legalize recreational marijuana next month, the impact this will have on online drug marketplaces has remained unclear. Consequently, the Department of Public Safety Canada is looking to commission a study that will shed light on the cryptomarkets – online drug marketplaces that rely on the TOR browser and cryptocurrencies – with

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The Daily: Wirex Expands to Canada, Coin Stats Syncs Exchange Transactions

September 17, 2018 By Mark Lyford Leave a Comment

Wirex, the popular European crypto card provider, has announced it’s expanding to Canada and we have the details covered in The Daily. Also in the rubric, the Coin Stats mobile app now synchronizes transactions from several exchanges, a coin claiming to have AML and KYC features is listed on a major exchange, and the UK government is asked about its assessment of recent crypto market developments.

Also read: Binance Tests Fiat Exchange, Russians Mull Crypto Platforms Read more...

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Town In Canada Meets Hackers Demands With Bitcoin Ransom

September 12, 2018 By Mark Lyford Leave a Comment

In the Ontario province of Canada, holds the town of Midland which has a population of more than 16,000 people and has recently had its computer systems hacked and infected with ransom malware.

The town of Midland has come to conclusion that they are going to meet the hackers wants and pay them (as per their demands) in Bitcoin, in order to get the computer system up and running again.

The attack on the towns computer systems left the town with ineffective computers for around 48 hours which ruined the processing of payments, issuance of permits, email services, marriage applications and reloading of transit cards. Read more...

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Bitcoin Mutual Fund Launches in Canada

September 10, 2018 By Mark Lyford Leave a Comment

First Block Capital Inc., a Canadian cryptocurrency and blockchain investment company, has announced that its bitcoin trust, FBC Bitcoin Trust, has achieved mutual fund status in Canada, allowing investors to place funds in registered accounts such as a Tax Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP). The trust is available on NEO

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Crypto Exchange Kraken Denies Security Breach and Office Closure in Halifax, Canada

September 6, 2018 By Mark Lyford Leave a Comment

Kraken exchange has been forced to comment on a persisting rumor that a Halifax, Canada office of the crypto exchange was shut down following a security breach resulting in the loss of hundreds of jobs. A post on Reddit made by ‘throwaway34032324’ yesterday states: “Kraken Currency exchange in Halifax unit 102 at 60 Highfield park

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21,000 New Locations Across Canada, Europe, Australia to Purchase Bitcoin Cash

September 4, 2018 By Mark Lyford Leave a Comment

Netcoins, an over-the-counter (OTC) brokerage and virtual ATM software company, announced this week it was enabling bitcoin cash (BCH) for immediate access purchase. For BCH enthusiasts, that’s 21,000 locations, covering Canada, Europe, and Australia where the decentralized currency is now available.

Also read: Square’s Big Week: Crypto Patent, Shares Leap, and Lightning Plug

21,000 New Locations to Buy Bitcoin Cash

“Adding BCH brings us to having 6 of the top 7 coins available via Netcoins. With just EOS left among the top 7 coins, we are giving investors a compelling reason to use the Netcoins network for all their crypto needs, whether via OTC or via our strong retail network,” announced Netcoins CEO Mark Binns. Read more...

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Canada Delays Regulation of Cryptocurrencies and Blockchain Companies

August 29, 2018 By Mark Lyford Leave a Comment

The Canadian government has postponed the release of its final regulations for cryptocurrency and blockchain companies. The final published regulations were due this fall, but the government now says they won’t be published in the Canada Gazette until late 2019.

Because the federal government is already in pre-election mode ahead of the 2019 election, the final cryptocurrency or “virtual currency” regulations have effectively been put on hold, leaving the current regulatory regime in place until well into 2020, as there is an additional 12-month period after publication for any new regulations to take effect. Read more...

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Huobi Launches Partner Exchanges in Russia, Philippines, Taiwan, Indonesia, Canada

August 17, 2018 By Mark Lyford Leave a Comment

Chinese exchange Huobi and its partners are launching cryptocurrency exchanges in five regions: the Philippines, Russia, Taiwan, Indonesia, and Canada. Partners “share Huobi’s order integration system, wallet system, asset management and clearing systems.” The exchange in Manila has launched with trading in three markets with over 40 trading pairs.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Five Partners, Five New Exchanges

Chinese digital asset and service provider Huobi has announced that it has chosen five partners to launch cryptocurrency exchanges in five regions. Read more...

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Mining Round-Up: AMD GPU Sales Decline, Hut 8 Claims to be Largest Miner in Canada

July 27, 2018 By Mark Lyford Leave a Comment

In recent mining news, AMD has reported declining sales of mining hardware during the second quarter of 2018, Hut 8 has claimed to now comprise the largest bitcoin mining company in Canada by operating power following the construction of its second facility, and Chinese authorities have shut down what they have described as “illegal” mining operations taking place in the autonomous Xinjiang Uyghur region in the country’s north-west.

Also Read: Binance Prepares to Enter the South Korean Market

AMD Reports Declining GPU Sales During Q2

Major manufacturer of graphics cards (GPUs), Advanced Micro Devices (ADM), has become the latest mining chip maker to report declining sales during Q2, 2018. Read more...

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Bitcoin Ownership Rising Throughout Canada

July 13, 2018 By Mark Lyford Leave a Comment

Canada has seen an increase in its bitcoin ownership rate from 2.9 percent in 2016 to 5.0 percent in 2017. Usage trends have also shifted, with most Canadians now holding bitcoin primarily for investment purposes.

The Bank of Canada has released its findings from a two-year long study that was completed to better assess Canadians’ usage and adoption of Bitcoin. The study, which began in 2016, followed central bank chief Stephen S. Poloz’s cautionary advice:

Cryptocurrency’ is a misnomer—‘crypto,’ yes, but ‘currency,’ no. Read more...

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