Industry input sought on new crypto-asset guidance
July 28, 2023 Philip PoradoWhile industries seldom relish regulation, Canada’s property and casualty (P&C) insurers can take solace in the knowledge that draft rules around their exposure to crypto-assets are limited. That’s because the latest Office of the Superintendent of Financial Institutions (OSFI) draft…
Victims lose $2M in cryptocurrency frauds, Vancouver police warn scams more frequent
March 22, 2021 The Canadian PressVANCOUVER — Police say cryptocurrency scams cost victims in the Vancouver-area about $2 million in just one week and investigators believe the frauds are becoming more common. Vancouver police Const. Tania Visintin says she knows of at least four active…
How not to manage risk at a cryptocurrency provider
June 21, 2019 Michael MacDonald - THE CANADIAN PRESSHALIFAX – The accounting firm investigating the unseemly demise of Canada’s QuadrigaCX cryptocurrency exchange is accusing the company’s late founder of creating fake trades and transferring customer funds into his personal accounts, where the money was used for high-risk margin…
Bank of England chief slams cryptocurrencies; urges action
March 2, 2018 Pan Pylas - THE ASSOCIATED PRESSLONDON – Bank of England Governor Mark Carney on Friday launched a withering attack on cryptocurrencies such as bitcoin and urged regulators around the world to monitor them in the same way as other financial assets. In a speech to…
Buying Bitcoin ‘means buying risk,’ says Bank of Canada governor
December 15, 2017 Armina Ligaya and Andy Blatchford - THE CANADIAN PRESSTORONTO – Bank of Canada governor Stephen Poloz is sounding the alarm on Bitcoin, calling the purchase of the cryptocurrency “closer to gambling than investing.” In a speech at the Canadian Club Toronto on Thursday, the governor said Bitcoin is…