Bitcoin News and Finance
Coinbase Launches in Canada — Executive Says Canada ‘Well Positioned’ to Be a Global Leader in Crypto Economy Skip to main content

Coinbase Launches in Canada — Executive Says Canada ‘Well Positioned’ to Be a Global Leader in Crypto Economy

Coinbase Officially Launches in Canada — Executive Says Canada ‘Well Positioned’ to Be a Global Leader in the Cryptoeconomy’

Nasdaq-listed crypto exchange Coinbase has officially launched in Canada with new offerings to “make cryptocurrencies more accessible to millions of Canadians.” A Coinbase executive stated: “Canada is well positioned to be a global leader in the cryptoeconomy.”

Coinbase Officially Launches in Canada

Cryptocurrency exchange Coinbase (Nasdaq: COIN) announced its “official launch in Canada” with a series of new offerings on Monday.

Coinbase CEO Brian Armstrong tweeted announcing the launch, stating that his company’s Canadian operation has new leadership, new payment rails, new regulatory milestones, and 200 local employees. “Smart countries are embracing this technology (and creating regulatory clarity) to help update the financial system and drive economic growth,” he described.

“Through its partnership with Peoples Trust Company, part of Peoples Group, Coinbase is now providing access to Interac e-transfers to 100% of Canadian Coinbase users,” the exchange’s announcement details, elaborating: “This will make cryptocurrencies more accessible to millions of Canadians.” The Nasdaq-listed crypto firm noted that “Depositing funds to Coinbase using Interac is free and almost instant,” adding that in the last month, over 50% of deposits have been made through Interac e-transfer.

Nana Murugesan, Coinbase’s vice president for International and Business Development, commented:

Canada is well positioned to be a global leader in the cryptoeconomy thanks to the high levels of crypto awareness, a passionate local tech ecosystem, and the progress towards a strong regulatory framework.

David Furlong, chief operating officer of Peoples Group, opined: “Peoples Group is pleased to partner with industry leader Coinbase, to enable this money movement tool for their Canadian customers and expand payment possibilities.”

According to a survey by the Ontario Securities Commission (OSC), over 30% of Canadians said they will buy cryptocurrency within the year, more than double those who say they currently own crypto assets.

Meanwhile, in the United States, Coinbase is engaged in a legal battle with the U.S. Securities and Exchange Commission (SEC). The SEC filed charges against Coinbase in June accusing the company of operating an unregistered securities exchange, broker, and clearing agency. Despite this, Coinbase has maintained that the crypto tokens listed on its trading platforms are not securities. However, SEC Chairman Gary Gensler holds the view that all crypto tokens, besides bitcoin, are securities. Coinbase has appealed to the court to dismiss the SEC lawsuit, contending that the regulatory body has exceeded its statutory authority.

What do you think about Coinbase expanding its services in Canada? Let us know in the comments section below.

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory