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Wells Fargo to Pilot DLT-Based Cross-Border Settlement Platform

News American financial services company Wells Fargo & Company is planning to launch a pilot of a distributed ledger technology (DLT)-based internal settlement service in 2020. In a Sept. 17 press release, Wells Fargo described a DLT-based platform designed to perform internal book transfers of in..

Canada Revenue Agency Audits QuadrigaCX’s Corporate Tax Returns

News The Canada Revenue Agency (CRA), the country’s tax authority, is auditing the corporate tax returns filed by QuadrigaCX, the now-defunct Canadian cryptocurrency exchange. CRA’s request for documents and information is significantAccording to an article by the Globe and Mail on Sept. 16, Quad..

Scammers Target Canadian Bitcoin ATM Users With ‘Out of Order’ Sign

News Fraudsters in Winnipeg, Canada, have targeted Bitcoin ATM users in the city by simply sticking a poster on the machine. Police issued a warning on Aug. 29 that following the instructions on the poster will lead to an irretrievable loss of their Bitcoin. Low-tech hack attackEven with a digital..

US Charges Two Canadian Nationals Over Alleged $230K Bitcoin Fraud

News Two Canadians of Indian origin were charged in the United States with a $233,220 Bitcoin (BTC) fraud using a fake HitBTC account on Twitter. Scammers posed as HitBTC customer service on TwitterKaranjit Singh Khatkar, 23, and Jagroop Singh Khatkar, 24, of Surrey, British Columbia, allegedly st..

Bitcoin More Efficient for Paying Taxes than Bank Cards, Says Exchange

News Evan Kuhn, the co-founder of Toronto-based cryptocurrency exchange Coinberry, has claimed Bitcoin (BTC) is more efficient for paying taxes than bank cards. As real estate news outlet Mansion Global reported on Aug. 22, Kuhn said his company takes much lower fees than the ones that card instit..

Report: Rwandan Central Bank Looks to Issue Official Digital Currency

News Rwanda’s central bank, the National Bank of Rwanda, is researching how to offer an official digital currency. BNN Bloomberg reported the news on Aug. 22. The central bank is interested in offering digital currency as a means to increase transaction efficiency and foster economic growth, per t..

Judge Rejects Multimillion Dollar Asset Plea in Crypto Fraud Case

News A Supreme Court judge in British Columbia (BC), Canada, has denied a motion to set aside an asset freeze, which was requested by the defendants in a multimillion dollar cryptocurrency fraud case. The defendants had filed to set aside an interim preservation order that was issued by the Britis..

What Are the Biggest Alleged Crypto Heists and How Much Was Stolen?

Analysis As the appeal of cryptocurrency has grown, so has the opportunity for scammers to part naive investors from their money. 2019 has been no exception, with cryptocurrency and blockchain forensics company Ciphertrace dubbing it “the year of the exit scam.” Exit scams are not a new phenomeno..

Canadian University: Blockchain Can Solve EV Charging Trust Problem

News Researchers at the University of Waterloo in Canada have used blockchain technology to improve trust in electric vehicle (EV) charging systems, reported academic publication portal EurekAlert on Aug. 14. This development could increase uptake and expand the overall charging infrastructure for..

Central Banks Worldwide Testing Their Own Digital Currencies

Central banks worldwide are examining the possibility of issuing a central bank digital currency (CBDC), with some already testing theirs for different uses. Countries that have advanced their digital currency projects include China, Singapore, Canada, the Bahamas, Thailand, Uruguay, and Sweden. Ind..

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