The Federal Court of Canada has ruled that the government's previous freezing of cryptocurrency donations to protesting truck drivers was unconstitutional. During the protest, truck drivers used their vehicles to block streets in the country's capital, Ottawa, to protest the requirement for truck drivers crossing the Canada-US border to be fully vaccinated against COVID-19. Protesters received millions of dollars in donations through cryptocurrency.

Akil Heywood has been arrested by Canadian law enforcement for allegedly kidnapping, threatening, and beating Aiden Pleterski, who is accused of orchestrating a crypto scam that defrauded investors of over $40 million. Heywood invested $740,000 with Pleterski and is one of five people facing charges related to the kidnapping and assault of the "Crypto King."

A report from the Canadian House of Commons Standing Committee on Industry and Technology has recommended that Canada acknowledge blockchain as an emerging industry and take necessary steps to support it. The report highlights the potential uses of blockchain technology, including cryptocurrency, supply chain management, and non-crypto financial innovations. Witnesses estimate that 16,000 Canadians were employed in the blockchain industry in 2020, with 13,000 working for cryptocurrency firms in 2022. The report calls for increased regulatory clarity and the development of a national strategy in collaboration with industry participants, particularly in regards to stablecoin regulation.

July 4 (Cointime) - Bitvo CEO Pamela Draper commented on the recent departure of crypto firms from Canada due to regulatory requirements. Despite firms like Binance and dYdX leaving, Draper stated that Canada has a regulatory regime in place that companies can follow, unlike in the US where Binance and Coinbase are facing lawsuits.

July 2 (Cointime) - Recent surveys reveal that public concern over the possibility of a US central bank digital currency (CBDC) is shared by Canada and the UK. Majority of Brits express concern about UK authorities having control over people’s funds, while 39% of Canadians worry about a loss of control over their finances.

June 29 (Cointime) - Canadian lawmakers have recognized blockchain, crypto, and mining as innovative industries with significant long-term potential, but in need of better regulation. The Canadian House of Commons Parliamentary Standing Committee on Industry and Technology completed a comprehensive study that examined blockchain and crypto use cases in the country, holding five meetings, hearing 31 witnesses, and receiving six briefs.

Kraken, a cryptocurrency exchange, has seen a 25% increase in customer deposits in Canada following the departure of rivals Binance and OKX. The company also experienced a fivefold increase in downloads of its mobile apps for Canadian clients after OKX announced its plans to leave in March. Kraken has been in Canada for over 10 years and has more than 250 staff there. The company's managing director for Canada, Mark Greenberg, said that the Canadian regulatory approach works for them, despite some limits on trading and margin.

DigiFinex, a leading global cryptocurrency exchange, has been granted a Pre-Registration Undertaking exemption-based approval by the Alberta Securities Commission and other Canadian provinces. This license allows DigiFinex to operate in Canada and provides an opportunity for Canadian clients to buy and sell cryptocurrencies on its platform. To comply with the regulatory requirements, DigiFinex needs to implement stringent measures to prevent money laundering and terrorist financing, establish adequate security systems, and ensure proper risk management procedures. DigiFinex's partnership with Qualified Custodian Tetra Trust brings access to a qualified custodian solution, setting a new standard for asset protection in the industry.

Binance, the world's largest cryptocurrency exchange, has announced that it will cease operations in Canada due to tightened crypto rules. The company had hoped to protect its Canadian users but has now concluded that it is no longer tenable to operate in the country due to new guidance related to stablecoins and investor limits. Binance's exit from Canada comes after the Canadian Securities Administrators regulatory body said in February that crypto firms planning to operate in Canada must register their compliance with a new set of regulatory guidelines. In the US, Binance and its founder Changpeng Zhao are facing a lawsuit from the Commodity Futures Trading Commission (CFTC) for allegedly offering unregistered cryptocurrency derivatives.

Jo Taylor – Chief Executive Officer of the $190 billion Ontario Teachers’ Pension Plan (OTPP) – told the Financial Times that the entity will refrain from cryptocurrency investments due to the losses triggered by the FTX meltdown. He said the decision was based in part on “feedback from our members,” who presumably criticized the fund’s initial interaction with the collapsed platform.