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House of Commons Standing Committee on Finance (FINA) wants to register crypto to fiat transactions and establish a licensing unit similar to BitLincense in the US.

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Michael Terpin’s BitAngels Investor Network Partners with Bitcoin Bay to Expand Blockchain Investment Ecosystem in Toronto, Canada

The post Michael Terpin’s BitAngels Investor Network Partners with Bitcoin Bay to Expand Blockchain Investment Ecosystem in Toronto, Canada written by Richard Kastelein appeared first on Blockchain News - Blockchain News and Opinion - Security and Utility Tokens, Tokenomics, Cryptoeconomics Well-known Blockchain and crypto industry giant Michael Terpin from digital currency investor network BitAngels has teamed up with Toronto’s Bitcoin Bay to expand the blockchain investment ecosystem in Canada’s largest city. “Through our partnership, we aim to accelerate blockchain adoption not only in Toronto, but internationally by connecting global entrepreneurs, investors, and communities through exclusive networking […] The post Michael Terpin’s BitAngels Investor Network Partners with Bitcoin Bay to Expand Blockchain Investment Ecosystem in Toronto, Canada written by Richard Kastelein appeared first on Blockchain News - Blockchain News and Opinion - Security and Utility Tokens, Tokenomics, Cryptoeconomics
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Royal Bank of Canada and TD Bank Fined C$24 Million in Forex Rigging Case

Ontario Securities Commission (OSC) hit Royal Bank of Canada and TD Bank with a C$24.5 million fine. The two companies were trying to manipulate the forex markets to benefit their positions. A forex manipulation game According to the allegations, both RBC and TD Bank were using chatrooms to share trade time, price, size and stop-loss levels. The two largest Canadian banks are a part of a bigger global forex manipulation scheme that took place between 2011 and 2013. Over 30 banks and their traders were involved in forex rigging scheme that has brought fines of over $10 billion in various parts of the world. Of the fine slapped by the OSC, TD Bank will pay $10 million while RBC will have to bear $14.35 million. The total fines include a $1.6 million bill for covering the cost of the investigation. The Royal Bank of Canada on Friday stated that it is pleased to cooperate with the OSC. It reiterated the fact that the conduct specified in the regulator’s allegations happened several years ago. The bank has taken multiple steps to improve controls internally since then. Insufficient controls The regulator said that both banks have insufficient control and oversight measures, which led to their traders going rogue and engaging in forex manipulation. The regulator cited an instance where the traders were sharing details of their trades with their competitors using electronic chatrooms. This helped them give their trading positions an advantage in the markets while disadvantaging firms that did not have access to their trading information. The competing firms were also engaging in an activity called ‘building ammo.’ In this tactic, they shared customer information improperly during a trade and ensured that they were not taking At the hearing, a representative from TD said, “TD takes its obligations to have sufficient controls in its business very seriously. It’s integral to its culture of serving customers efficiently. The bottom line is that TD’s controls on FX trading are quite different today than it was 6-8 years ago.” However, this didn’t stop the regular from imposing a multi-million dollar fine on the company. Canadian authorities have long faced criticism for not taking strong measures against banks and traders involved in the 2013 forex rigging scandal. European authorities and US regulators have been handling the issue strictly. However, their fines are not as harsh as those imposed by their peers globally. The post Royal Bank of Canada and TD Bank Fined C$24 Million in Forex Rigging Case appeared first on FXTimes.com - Daily Cryptocurrency and FX News.
Cryptovibes

Bitcoin mining farm in Canada registers massive revenue growth of 262% in Q2 of 2019

Hut 8, one of the largest public Bitcoin mining farms by operating capacity, has released its financial report for the second quarter of 2019. The mining firm recorded a tremendous surge in its net profit and overall revenue for Q2, with the net profit for the firm reaching $33.7 million Candian dollars while the overall […] The post Bitcoin mining farm in Canada registers massive revenue growth of 262% in Q2 of 2019 appeared first on AMBCrypto.
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Bringing the Future of Finance to Canada

The Holt Fintech Accelerator has announced the launch of its 2019 cohort, the second in its history.  Building on the success of the class of 2018, Canada’s only business accelerator devoted exclusively to Fintech welcomes 8 new companies from 5 different countries. This brings Holt closer to its goals of supporting innovation in the global financial services sector, and continuing to help make Montreal, Quebec and Canada a top destination for Fintech talent and innovation.  “We’re trying to support financial technologies that we believe are needed in the Canadian Market. We are now seeing some institutional players buying into what we’re doing.” said Brendan Holt Dunn, Founder & Managing Partner of the Holt Accelerator. Jan Christopher Arp, fellow Managing Partner & co-Founder added “It’s about investing in Canadian founders, as well as international entrepreneurs who can move and potentially incorporate in Canada. This creates direct benefits for Canadian consumers, financial institutions and service providers, while also enabling Canada to be more competitive globally.”  “We’re trying to support financial technologies that we believe are needed in the Canadian Market.” The 2019 cohort is made up of the following companies: Conatix – a cybersecurity firm preventing fraud and data theft from the inside. Conatix helps banks detect suspicious employee activity, improper behaviour, policy violations and other threats on IT networks with thousands of employees, in real time.  2. ConfirmU – helping individuals with little or no credit history gain access to financial products by combining financial data and psycholinguistics into an alternative credit scoring system.  3. HodlBot – a Canadian based customisable cryptocurrency trading bot that enables users to index the market, create and automatically rebalance their cryptocurrency portfolios.  4. LexAlign – demand for remote deposit capture is skyrocketing. Under current regulation, FI’s must train commercial customers to mitigate the risks of this service, which is not scalable. LexAlign offers an automated solution that acts as a risk rating agency for security and compliance around RDC. 5. Maat.ai – modernising finance by creating new and compliant digital document management solutions. Their digital ID and wallet make secure interactions easy.  This Mexican Fintech is enabling people and organisations to exchange digital documents safely, easily and efficiently, improving the experience for all parties. 6. Manzil – many of the world’s 1 billion Muslims cannot pay or receive interest on financial transactions, hindering their ability to purchase a home. Manzil offers them a murabaha mortgage, balancing modern business practices and religious obligations. 7. MarketsFlow – tackling the performance gap in do-it-yourself digital wealth management, MarketsFlow offers a portfolio optimisation platform delivering high returns for online investors. This British firm consistently outperforms other robo- advisors available today. 8. WealthBlock.AI – US based WealthBlock.AI invites investors to view financial documents via a secure link and tracks the interaction between these investors and the entrepreneurs, to gauge interest and streamline follow ups.  These companies were selected from close to 600 applications emanating from over 70 countries. Selections were made following July’s Selection Days. The 2019 cohort begins Aug 19, 2019.  The post Bringing the Future of Finance to Canada appeared first on The Fintech Times.
The Fintech Times

Bringing the Future of Finance to Canada - Holt Fintech Accelerator Launches 2019 Cohort

MONTREAL, Aug. 19, 2019 /CNW Telbec/ - The Holt Fintech Accelerator today announces the launch of its 2019 cohort, the second in its history. Building on the success of the class of 2018, Canada's only business accelerator devoted exclusively to Fintech welcomes 8 new companies from 5 different countries. This brings Holt closer to its goals of supporting innovation in the global financial services sector, and continuing to help make Montreal, Quebec and Canada a top destination for Fintech talent and innovation. "We're trying to support financial technologies that we believe are needed in the Canadian Market. We are now seeing some institutional players buying into what we're doing." said Brendan Holt Dunn, Founder & Managing Partner of the Holt Accelerator. Jan Christopher Arp, fellow Managing Partner & co-Founder added "It's about investing in Canadian founders, as well as international entrepreneurs who can move and potentially incorporate in Canada. This creates direct benefits for Canadian consumers, financial ...Full story available on Benzinga.com
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DIGEST

Updates on Shift Card, Bank of Lithuania and ETF rules in Indonesia, police to tackle some crimes in Canada India and Turkey, IIT Bombay to join Ripple's UBRI, UAE waste permit portal on blockchain, Germany's interest and Spain's skepticism, Oracle for Czech SDK.finance

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DIGEST

Zcash unveiled an already fixed vulnerability, US presidential candidate McAfee the debtor, QuadrigaCX seeking protection and justice, Kraken's new partnership, evidence of BTC decentralization improvements, rumors as for Bakkt, a bunch of news from Ripple and Telegram TON updates

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DIGEST

Startups in Switzerland and Liechtenstein, natural integration of crypto into Switzerland's banking system, Jamaica's JSE and securities, more crypto exchanges news: South Korea and Cayman Islands as newsmakers, Malta's MFSA scam 'scanner', fund for blockchain integration in Uzbekistan, Kik against SEC trial

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DIGEST

Meh: Yet No Hidden Reason For Fluctuations Here

Turkish stock exchange applies blockchain, Belgium offers ICO regulation, new deadline for Visa crypto cards issue, Greek's big plans for BTC-ATMs, an opinion of representative from the Royal Bank of Canada on Goldman Sachs's policy, and Kraken's assurances on its stability

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Token Swap: Tether Announces Token Burn Of Over 400 Million USDT

Tether has shared a piece of information about a forthcoming token burn which according to announcement would take place shortly. According to a tweet from their official Twitter handle, Tether plans to shortly move 400 million Tether USDt as part of its Omni authorized but not issue pool to the issuance address in order to burn/revoke them. Tether will shortly move 400m Tether USDt as part of its Omni authorized but not issue pool to the issuance address in order to burn/revoke them. — Tether (@Tether_to) September 16, 2019 Tether Minted 300 million USDT Few Days Ago Few days ago, Tether took to Twitter to inform its users that it was coordinating with a third party to perform a chain swap. This was planned in order to convert some tokens from their original Omni to an Erc 20 protocol. At the time of the initial announcement, 300 million Tether USDt was announced to have been minted for the swap. However, these conversions took place few days ago as Tether promised the token swap wouldn’t disrupt the total supply. In few hours Tether will coordinate with a 3rd party to perform a chain swap (conversion from Omni to ERC20 protocol) for 300M USDt. Tether total supply will not change during this process. — Tether (@Tether_to) September 12, 2019 Whale Alert, a twitter account dedicated to alerting the community of big cryptocurrency transactions, noted the coinage described above in a tweet published on Sept. 12. As per a second tweet submitted as an answer to the first one, Whale Alert offered an explanation of the type of transaction: “This USDT mint is part of a swap. The corresponding burn on Omni has not taken place yet.” And finally, Tether is burning the Omni Tether that was already converted to ERC20. Until now, no token burn has taken place on Omni blockchain. In July, it was reported that Tether accidentally minted and burned 5 million USDT tokens. However, Tether long-standing controversy about issues relating to transparency and market manipulation. The post Token Swap: Tether Announces Token Burn Of Over 400 Million USDT appeared first on Coingape.
CoinGape

Zero-Knowledge Proof Solution from QEDIT Implemented Into Kaleido Blockchain For Transaction Privacy

Kaleido, a startup blockchain solution from ConsenSys Venture Studio has gone on record to become the first blockchain platform to implement the zero-knowledge proof solution from QEDIT—the crypto private company. A Non-compulsory Feature On September 13th, 2019 QEDIT shared a paress released with Cointelegraph where it stated that the partnership it had developed with Kaleido […]
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Cryptocurrency Exchange OKEx Korea Removes Privacy Altcoins

According to an official announcement made by the South Korean branch of OKEx, the popular exchange will delist five privacy coins as early as October 10, 2019. Complications for Privacy Coins Trading of Monero (XMR), Dash (DASH), ZCash (ZEC), Horizen (ZEN) and Super Bitcoin (SBTC) on OKEx Korea will be suspended on October 10, 2019,Read MoreRead More. The post by Edoardo Vecchio appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager
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