#canada
32 articles found
Latest
Canada sets stablecoin rules in 2025 Federal budget
Canada’s 2025 federal budget introduces legislation for fiat‑backed stablecoins. Issuers would be required to hold adequate reserves and offer clear redemption rights. The Bank of Canada is designated to administer the regime, funded with $10 million retained from its remittances over 2026–27. 
According to a survey by the Bank of Canada, only 2.5% of Canadians used cryptocurrencies for everyday payments last year. Predominantly, individuals continue to favor traditional forms of electronic payments such as those made via phone numbers or email over cash and bank cards. 
A Canadian court has ordered Air Canada to partially refund the cost of tickets ($482) and pay the legal fees of Jake Moffatt due to misleading information provided by the airline's AI chatbot. The client sought discounted tickets due to a family death and consulted the AI for details. 
The Federal Court of Canada has ruled the government's actions of freezing cryptocurrency assets and limiting donations to protesters as unlawful. These measures were implemented by Prime Minister Trudeau amidst the extensive trucker demonstrations opposing COVID-19 restrictions. 
G7 Countries Forge Common Principles on AI Risk Mitigation
The artificial intelligence sector is revisiting the idea of implementing specific watermarks and additional vetting measures. The G7 countries – Canada, France, Germany, Italy, Japan, the UK, and the USA – have presented 11 guiding principles for AI applications to tech companies. For now, following these guidelines is optional. 
Canadian police seize $40M crypto, dismantle TradeOgre
Canada’s national police seized C$56 million (~$40 million) in crypto from TradeOgre, calling it the country’s largest cryptocurrency seizure. The case began in June 2024 after a Europol tip, which found that the platform was unregistered and did not verify clients. 
Tiff Macklem, the Governor of the Bank of Canada, cautioned that artificial intelligence could temporarily push inflation higher and undermine financial stability. He pointed out that companies using AI tend to adjust prices more frequently than others. 
British autonomous vehicle manufacturer Wayve Technologies announces the opening of a new research and development hub in Vancouver, Canada, marking its third establishment following London and Mountain View in California. The initiative will be spearheaded by the company's Chief Scientific Officer, Jamie Shotton. 
The case's key figures engineered unique encryption ransomware to launch attacks on the world's leading corporations in countries like France, Norway, Germany, the Netherlands, Canada, and the United States, with their operations dating back to 2018. 
Coinbase, the cryptocurrency exchange, has joined forces with Peoples Trust Company. This collaboration facilitates access to the Interac e-Transfers system, streamlining deposit and withdrawal processes for its Canadian user base.
What's more, they're gifting users a one-month free gateway into the Coinbase One subscription. This means no trade-related fees, amplified staking profits, and swift client support.
"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," voiced Nana Murugesan, the International Development VP at Coinbase.