Bitcoin Mining In Canada Is Thriving Despite Stringent Regulations
Though regulations in some Canadian regions make bitcoin mining difficult, the country overall is poised to become a top-three mining hub.There’s been plenty of jibber-jabber about how much the United States stands to benefit from the great hash rate migration from China, but what about the U.S.’s continental cousin, Canada?A few months ago, a news report surfaced that said Bitfarms, one of Canada’s largest bitcoin miners, was quitting Quebec on account of rising energy prices and stringent regulations. In fact this isn't true; Bitfarms is expanding in Quebec, but it's just moving moving....
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With news today that Canada is regulating bitcoin at the national level, gambling websites Just-Dice and Doge-Dice (under same ownership and presumably run from Canada) have announced that they are ceasing account depositing and betting for the foreseeable future. The news comes from the sites' official blog in a post made by a staffer that simply goes by 'Deb': As some of you know and many of you are going to find out, we have determined that the best course of action following Canada's new regulations regarding 'online currency' is to temporarily disable betting and depositing on both....
FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) is working on a regulation plan for Money Services Businesses (MSBs) dealing in virtual currencies, a series of rules that will most likely come to force in 2015. The Canadian financial regulator said that changes to the Proceeds of Crime and Terrorism Financing Act, a list of rules that facilitate combatting the laundering of proceeds of crime and combating the financing of terrorist activities, "will aim to cover entities such as virtual currency exchanges, not individuals or businesses that use virtual currencies for....
United States President Joe Biden’s proposed cryptocurrency tax regulations are causing concern among many. These regulations would require brokers (individuals facilitating buying and selling) to report digital currency transactions to the government, aligning with existing practices for other monetary transactions. However, these rules are facing opposition within the cryptocurrency community. Critics argue that these stringent […]
The government in Vilnius has approved amendments introducing more stringent regulations for the country’s growing crypto space. The legislation is aimed at managing risks associated with crypto assets and preventing Russian attempts to circumvent Western sanctions imposed over the war in Ukraine.
Lithuanian Authorities to Tighten Rules for Crypto Industry
Lithuania is preparing to revise its Law on Prevention of Money Laundering and Terrorist Financing with the stated goal of ensuring greater transparency and sustainable development for its cryptocurrency sector. This....
James Downer is a student of International Relations and Computer science, and is interested in the collision between the two. Here, he discusses bitcoin's growing role in Argentina and the nation's thriving black market for dollars. The US dollar black market doesn't just thrive in Buenos Aires, it's published in the paper every morning. Swinging by one of the city's newsstands, you'll find the official peso to dollar rates published next to the 'dólar blue' rates at the top of the morning edition of La Nación, and if you walk downtown to Calle Florida, the arbolitos (street traders of....