Canadian Bank Cuts Cointrader Accounts Amid Hostile Government Rhetoric
Bank of Montreal, the fourth-largest bank in Canada, has closed all Cointrader customer and corporate accounts, the Vancouver-based exchange revealed via blog post on 17th February. Most notably, Cointrader suggested that the decision is part of a broader move by Bank of Montreal to sever ties with all of the virtual currency businesses it serves. Cointrader CTO and co-founder Paul Szczesny said such a move would have a larger impact on the country's burgeoning bitcoin ecosystem, and blamed recent warnings from the Canadian government for the bank's decision. Said Szczesny: "It's a drastic....
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Canadian bitcoin exchange CoinTrader has shut down its operations. By the look of things, there is no indication that the exchange will resurface at a later time, either. CoinTrader, a Canadian bitcoin exchange that – in addition to its exchange platform – also has BTM ATM machines in London and Tokyo, along with point-of-sale systems called CoinZero has “closed its doors” with immediate effect. The home-page of the website simply reads: CoinTrader.net has closed its doors effective immediately. Customers with balances will be contacted by email, mail or telephone to settle your account.....
Newnote Financial, which is publicly traded (CSE: NEU. OTCQB: NWWTF. FSE: 1W4) on three international stock exchanges on two continents, has acquired Canadian Bitcoin exchange CoinTrader.net. In addition to its trading platform, CoinTrader has Bitcoin ATM machines in London and Tokyo, as well as a point-of-sale system called CoinZero. The deal was made for 1.5 million Canadian dollars in cash and stock, and was confirmed for CCN on Thursday morning. Also read: AllCrypt.com Bitcoin Exchange Goes Down. Founded almost two years ago by Vancouver group Bitcoiniacs, CoinTrader.net is the....
Over the last week, there’s been a lot of discussion about Canada ‘freezing’ digital currency accounts that are associated with the Canadian trucker’s Freedom Convoy. Amid the topical conversation, it should be stressed that decentralized cryptocurrencies like bitcoin and ethereum, cannot be frozen directly within the network. However, the Canadian government can flag specific digital currency addresses and take it even further, by asking centralized entities like crypto exchanges and payment processors to freeze the funds.
Canadian Officials Can Flag....
Bitcoin and cryptocurrency software products company Newnote Financial Corp has announced that Canadian fiat settlement is now possible on online cryptocurrency marketplace Coinpayments.com using its Cointrader.net Bitcoin exchange. Newnote has a 20% equity stake in Coinpayments.com. The integration makes it possible for over 13,000 Coinpayments merchants to sell their Bitcoin on Cointrader.net and receive the amount in fiat cash via an electronic transfer or direct ACH transfer to their bank accounts. Merchants can accept 55 different cryptocurrencies using one of the 25 popular shopping....
There can be no doubt that the Bitcoin ecosystem has been hit hard this past month. Canadian financial regulators, long held as the paragons of a light and wait-and-see approach to the Bitcoin economy, began to move towards a more active stance, and a particularly ominous passpge from the FINTRAC report even suggests that the agency can potentially "choke bitcoins oxygen (sic)" by denying Canadians access to the foreign exchange market. BMO, the last Bitcoin-friendly bank in Canada, shut down the account of Cointrader, a Vancouver-based Bitcoin exchange, soon after that, although....