Canadian regulators taking a closer look at murky world of cryptocurrency ICOs

  • Canadian securities regulators are taking a closer look at technology companies that offer digital currencies such as bitcoin to raise funds, to make sure they abide by the right set of rules.
  • Similar to an initial public offering, or IPO, of a stock, a flurry of Canadian technology companies have recently raised money via ICO — initial coin offerings — in which digital tokens or coins are given to early investors in exchange for money, which the tech companies use to create their product.
  • But while the digital coins being exchanged are often established cryptocurrencies like bitcoin or ethereum, sometimes they are something else entirely, which is why regulators are looking to clarify the rules to determine whether such fundraising deals should be treated similarly to equity investments, or more like conventional money — on a case-by-case basis.
  • The Securities and Exchange Commission recently ruled that a major cryptocurrency offering known as the Decentralized Autonomous Organization, or DAO, which raised $150 million US last year, was in fact a securities offering, and as such breached the rules it should have been bound to.
  • While broadly receptive to more clarity on the rules, many in the cryptocurrency world are wary of an over-reach by regulators that would see them treat all such fundraising plans as securities offerings when, in fact, they should be treated the same way other private currencies are.

Canadian securities regulators are taking a closer look at technology companies that offer digital currencies such as bitcoin to raise funds, to make sure they abide by the right set of rules.
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World’s first bitcoin ATM opens in Vancouver

  • An ATM that converts bitcoins to Canadian dollars and vice versa opened for business in a Vancouver coffee shop today, marking a world first.
  • Michael Bliss, owner of Pacific Bliss Yoga, said his business was the first in Western Canada to start accepting bitcoins two years ago.
  • “Now, we’ve got at least 20 businesses this year,” said Bliss, co-founder of the BitCoin Co-op, on CBC’s Early Edition Tuesday.
  • The organization helps businesses and customers exchange bitcoins and connects people to businesses that accept bitcoins.
  • In an interview, Bliss acknowledged that up until now, exchanging bitcoins for other types of currency has been “a pain.”

An ATM that converts bitcoins to Canadian dollars and vice versa opened for business in a Vancouver coffee shop today, marking a world first.
Continue reading “World’s first bitcoin ATM opens in Vancouver”

Marijuana chain to defy law, open outlets in Montreal

  • Cannabis Culture provides a lawyer for employees if they are arrested and charged.
  • Cannabis Culture, which operates dispensaries in 12 locations across British Columbia and Ontario, said it will announce the new Montreal locations on Dec. 14.
  • Montreal police said in an email that the dispensaries operated by Cannabis Culture are not permitted under current federal regulations that allow access to medical marijuana.
  • Cannabis Culture operates dispensaries in 12 locations across British Columbia and Ontario.
  • His own centre has been raided in the past and he believes authorities will be less likely to tolerate Cannabis Culture locations because of their recreational nature.

Cannabis Culture, which operates dispensaries in 12 locations across British Columbia and Ontario, said it will announce the new locations on Dec. 14. They will open their doors to the public the next day.
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Introducing: From Bartering to Bitcoin

The Future of Money in a Digital World

  • Comments on the story are moderated according to our Submission Guidelines .
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  • So for the next month on Spark we’re going to be talking money.
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  • On September 11th we will be starting our 10th season of Spark.

The Future of Money in a Digital World
Continue reading “Introducing: From Bartering to Bitcoin”

MintChip launch Tuesday brings Canadian-made digital cash to consumers

  • Like cryptocurrencies such as bitcoin, it is an encrypted system that processes payments instantaneously removing the need for a third party to process or settle the transaction.
  • Gas stations saw booming business in April, pushing retail sales up to $44B June 22, 9:57 AM ET read comments
  • MintChip launch Tuesday brings Canadian-made digital cash to consumers read comments
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@Corner_Coin: “MintChip allows users to transfer money between themselves with no transaction fee #fintech #bitcoin”


MintChip, the digital cash platform started by the Royal Canadian Mint and acquired earlier this year by Toronto financial technology startup nanoPay, will be available to consumers starting today.


MintChip launch Tuesday brings Canadian-made digital cash to consumers

Bitcoin ransom demanded by hackers of Calgary wine store

  • Our I.T. guy had to go out for us and purchase bitcoins in order to pay,’ owner Andrew Ferguson said.
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  • “Our I.T. guy had to go out for us and purchase bitcoins in order to pay what these guys are demanding,” said Ferguson, who speculates they wanted the virtual money as it’s more difficult to trace.
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@mcnulty_tara: “I wonder if it’s the same people?#calgaryU #hacked #bitcoin”


A Calgary liquor store has paid a ransom to regain access to its computers after hackers infected its database with a virus — and even got an unofficial receipt thanking it for its involuntary “purchase.”


Bitcoin ransom demanded by hackers of Calgary wine store