Altcoin News by Thebittimes.Com

In 2023, the number of crypto currency owners in Canada decreased slightly, but the average holdings increased significantly. According to a report from the Ontario Securities Commission (OSC), 77% of respondents regret investing in crypto assets. While the number of Canadians able to provide a basic definition of cryptocurrency has grown from 51% in 2022 to 54% in 2023, only 34% of them now believe cryptocurrency “will play a key role in the future,” compared to 49% in 2022. However, despite the pessimism, 39% of respondents said their crypto portfolio was profitable compared to the initial investment, which is only slightly lower than in 2022 (46%). And the average value of such a portfolio has risen sharply from $52,975 last year to $82,998 this year. Source: OSC report The negative sentiment of Canadians towards crypto currency was confirmed in the “Digital Canadian Dollar Public Consultation Report.” In addition, public consultations on the Central Bank of Canada’...

Localcoin ATM will also be expanding its range of cryptocurrency offerings and launching a wallet app. Canadian fintech corporation WonderFi, a firm backed by billionaire Kevin O’Leary, recently announced a strategic partners hip between Bitbuy and crypto currency ATM provider Localcoin ATM. The partnership, announced on Sep. 18, will shore up Localcoin’s crypto ATM offerings throughout Canada with Bitbuy’s exchange platform and the “deep liquidity” that comes with it, according to a press release from WonderFi. PRESS RELEASE: Bitbuy Partners with Localcoin, Canada's Largest Bitcoin ATM Provider Bitbuy's digital asset offering now powers nearly 50% of Canada's Bitcoin ATMs MORE DETAILS: https://t.co/rqBDoHev1O — WonderFi (@WonderFi) September 18, 2023 Bitbuy was the first cryptocurrency exchange to receive full regulatory approval in Canada. It was acquired by WonderFi in the January 2023 purchase of its parent company First Ledger Corp., for close to $162 million (206...

Canadian regulator revealed it is considering amendments to its capital and liquidity approach concerning crypto assets. The proposed rules aim to streamline how institutions handle potential risks associated with crypto currencies, outlining four distinct categories of digital assets and their respective capital treatment. In a July 26 news release from Ottawa, Canada, the Office of the Superintendent of Financial Institutions (OSFI) has proposed revisions to its capital and liquidity approach for crypto-assets. It aims to align with the evolving risk landscape and international developments. The OSFI unveiled two draft guidelines. One is for federally regulated deposit-taking institutions. Another is for insurers, outlining the regulatory capital treatment of crypto-asset exposures. In line with @BIS_org’s new banking standards for # crypto -asset exposures, we’ve drafted guidance tailored for Canada. Share your feedback on proposed changes to our capital and liquidity approa...