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Virtual Currency › Canada

Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender... more +
Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency.    less -
Stikeman Elliott LLP

The Virtual Currency Regulation Review - September 2023

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I INTRODUCTION TO THE LEGAL AND REGULATORY FRAMEWORK - Canada currently has no comprehensive framework governing the regulation of digital assets. Securities and derivatives regulation has emerged as the main regulatory...more

Stikeman Elliott LLP

The Virtual Currency Regulation Review - November 2022

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I - INTRODUCTION TO THE LEGAL AND REGULATORY FRAMEWORK - Canada currently has no comprehensive framework governing the regulation of digital assets. Securities regulation has emerged as the main regulatory instrument in...more

Bennett Jones LLP

The Cullen Commission Explores the Issue of Money Laundering Through Virtual Assets

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In June 2022, the Final Report of the Commission of Inquiry into Money Laundering in British Columbia was published. As previously reported by us in The Cullen Commission Releases Its Final Report on Money Laundering in...more

Bennett Jones LLP

Deciding on a Digital Dollar: The Necessary Steps for Canada

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Key Takeaways from a Second Virtual Workshop with Canadian and International Experts on the Digitalization of Money - On April 26, 2022, the Centre for International Governance Innovation and Bennett Jones hosted a virtual...more

Davies Ward Phillips & Vineberg LLP

Filling the Gap: Scope of Canadian Anti-Money Laundering Laws Expanded

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The Canadian federal government has fulfilled its promise to expand Canada’s anti-money laundering (AML) regime to cover crowdfunding platforms and certain payment service providers (PSPs) that previously operated outside the...more

Bennett Jones LLP

Cryptocurrency Litigation: Traditional Remedies in Modern Circumstances

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Ontario Superior Court Issues an Anton Piller Order in Connection with Alleged Cryptocurrency Theft - Previously under seal and only recently released to the public, the Ontario Superior Court’s decision in Cicada 137 LLC v...more

Blake, Cassels & Graydon LLP

Changements aux règlements pris en vertu de la Partie 1 de la LRPCFAT

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Le 5 avril 2022, le ministère des Finances du Canada a publié de nouveaux règlements (les « Règlements ») modifiant la réglementation prise en vertu de la Loi sur le recyclage des produits de la criminalité et le financement...more

Bennett Jones LLP

Canada and the Digitalization of Money: Key Takeaways from a Virtual Workshop of International and Canadian Experts

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Key Takeaways from a Virtual Workshop of International and Canadian Experts - Canada and the Digitalization of Money is a report of a virtual conference of international and Canadian experts, organized by Bennett Jones and...more

BakerHostetler

Canadian Ether Fund Launches, Swiss Bank Tokenizes Shares, Crypto Regulation Evolves in UK, Estonia and Germany; Blockchain...

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Canadian Ether Fund Launches, Swiss Bank Tokenizes Shares, New German Law Passed - Earlier this month, 3iQ Corp., a Toronto-based investment management firm, announced the listing of its fund, The Ether Fund (the Fund), on...more

Blake, Cassels & Graydon LLP

Revamping Canada’s Anti-Money Laundering Rules: What’s New, What’s Changed and What It Means for Business

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Since the proposed amendments to the regulations (Regulations) to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) were released in June 2018, regulated entities (REs) have been anxiously...more

Blake, Cassels & Graydon LLP

Blockchain Remittance Platform ZED Network Receives First Prospectus Exemption for Distributing Crypto Tokens

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The Ontario Securities Commission (OSC), on behalf of the Canadian Securities Administrators (CSA), recently granted ZED Network Inc. (Company) discretionary exemptive relief from prospectus and dealer registration...more

K&L Gates LLP

Cryptocurrency Firms Struggle to Engage Auditors

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In January 2019, Canada’s largest cryptocurrency exchange, QuadrigaCX, announced that it had lost $180 million of virtual currency, prompting calls for tighter regulatory oversight of the industry....more

Perkins Coie

Blockchain Week in Review - March 2019 #2

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U.S. Developments - Denver to Implement Blockchain-Based Elections for Overseas Voters - Denver moves to become the second U.S. jurisdiction to implement a blockchain-based voting system for overseas voters. Active duty...more

Perkins Coie

Blockchain Week in Review - February 2019 #2

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U.S. Developments - Florida Court of Appeals Rules That Direct Sales of Bitcoin Constituted Money Transmission and the Sale of Payment Instruments - Reversing the order issued by the Miami-Dade County Circuit Court, the...more

Polsinelli

Spectacular Failure of Canadian Cryptocurrency Exchange Provides $190 Million Lesson on the Need for Digital Asset Compliance...

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QuadrigaCX, one of the largest Canadian cryptocurrency exchanges, recently left users in the lurch when it took its website offline and filed for creditor protection in Nova Scotia. ...more

Pillsbury - Policyholder Pulse blog

The Times They Are A-Changin’ for Cannabis Insurance

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Like Bob Dylan, marijuana has gone from symbol of 1960s counter-culture to mainstream appeal. It is telling that Lloyd’s of London (which reportedly insures Mr. Dylan’s vocal chords) has also recently announced that that it...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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To no one’s surprise, the Fed followed through with its months of promises and raised its benchmark interest rate by 25 basis points yesterday. The FOMC also indicated that it’s planning to raise rates again in December....more

Blake, Cassels & Graydon LLP

The Good, the Bad and the Ugly: Revised Regulations to PCMLTFA

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The wait is over. On June 9, 2018, the Department of Finance (Department) released the long-awaited amendments to the regulations to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) (Revised...more

Bennett Jones LLP

Getting In on Bitcoin: Canadian Income Tax Implications of Cryptocurrencies

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Are you contemplating the acquisition of a cryptocurrency such as Bitcoin or Litecoin? The reasons for, and circumstances surrounding, such acquisitions vary widely, including "crypto-mining" activities, buying and selling...more

Bennett Jones LLP

Cybersecurity Uncertainty for Cryptocurrencies

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There is a lot of money—both fiat and virtual—in cryptocurrencies. The growth of these blockchain-based online assets made headlines throughout 2017. The price of Bitcoin, likely the best-known cryptocurrency, rose from...more

Blake, Cassels & Graydon LLP

Litigation Notes on Bitcoin and Other Cryptocurrencies

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Cryptocurrency is evolving and with that, a plethora of legal issues are likely to arise. That will undoubtedly create the requirement for courts to apply not only new remedies to address claimed wrongdoings related to...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - December 2017 #2

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$64 Million in Bitcoin Stolen from NiceHash - Many are lamenting not purchasing bitcoin now that its value has skyrocketed. Recently, Massachusetts Secretary of State William Galvin warned investors to stay away from...more

Perkins Coie

Blockchain Week in Review – September 2017 #7

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Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Katten Muchin Rosenman LLP

Bridging the Week - August 2015

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ESMA Says “No for Now” to Granting Passport Rights to US Fund Managers Under AIFMD: The European Securities and Markets Authority told the European Commission last week that it was premature to grant passport rights to...more

Dickinson Wright

Gaming Legal News - February 2014 • Volume 7, Number 4: Digital Currency Identified As An “Emerging Risk” In The Canadian Federal...

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On February 11, 2014, the Canadian Federal Government released its 2014 Budget. In the 2014 Budget, the Federal Government pledged to introduce legislative amendments to strengthen Canada’s anti-money laundering and terrorist...more

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