11 Exchanges to Buy Bitcoin in Canada (2020 Updated)

New exchange listing!🚨 Growers International is now on Canadian based crypto exchange: MapleChange

New exchange listing!🚨 Growers International is now on Canadian based crypto exchange: MapleChange submitted by Crypto-Ghost to GRWI [link] [comments]

I have just received an email from Kraken. Have fun.

Help us discover the Quadriga coins - 100K reward
Greetings,
The Kraken mission is to accelerate the adoption of cryptocurrency so that the world can benefit from greater financial freedom and inclusion. This is why we’ve consistently done more than provide one of the best crypto exchange experiences.
Since 2014 we have invested significant resources and lent our crypto expertise to the MtGox trustee and investigators, supporting the return of as much client funds as possible and as soon as possible. Events like this impact the entire industry, which is why we want to get involved if there’s a way we can help.
About a month ago, on January 26, QuadrigaCX (a Canadian-based crypto exchange with clients around the world) suspended operations. Seven weeks prior, their CEO passed away suddenly and unexpectedly, leaving the business without a continuity plan. Supposedly, he was the only person who knew the location of and/or could access the client funds (fiat and crypto) totaling approximately $190 million US dollars (belonging to 115,000 clients). Some say the events and circumstances surrounding this case are too suspicious to be believed.
Kraken wants to bring awareness and attention to this case, in hopes that we can help discover some or all of the missing client funds.
Listen and/or watch our podcast to hear the many facts of the case so you can help us solve this mystery. We reveal our own analysis and subjective assessment of the most plausible explanations or theories based on our experience as exchange operators.
EP 3: Chasing the Conspiracy (what we may know of so far) EP 4: Solving the Conspiracy (what we think happened)
After reviewing the episodes, do you know where the missing client funds are? Do you know who may know something that can help law enforcement locate the funds?
If so, let us know and we’ll pass your tips on to law enforcement. Kraken is giving up to $100,000 USD (fiat or crypto) as a reward for the tip(s) that best lead to the discovery of the missing $190 million US dollars. Go here to submit your tips or leads. With your help, Kraken is committed to supporting law enforcement in solving this case.
Go to our podcast page to listen and/or watch these and other episodes of the Kraken “How to Grow a Decacorn” podcast.
Thank you for choosing Kraken, the trusted and secure digital assets exchange.
The Kraken Team
Important terms: Kraken is offering this reward for information leading to significant progress or discovery of the all or some of the missing client funds. It is up to our sole discretion which tips warrant a reward, if any. The total of all rewards will not exceed $100,000 USD. Kraken may end this reward program at any point in time. All leads collected by Kraken will be provided to the FBI, RCMP or other law enforcement authorities, who have an active interest in this case
submitted by WH4T15P0RN to Buttcoin [link] [comments]

Help us discover the Quadriga coins - 100K reward

Hi ,
The Kraken mission is to accelerate the adoption of cryptocurrency so that the world can benefit from greater financial freedom and inclusion. This is why we’ve consistently done more than provide one of the best crypto exchange experiences.
Since 2014 we have invested significant resources and lent our crypto expertise to the MtGox trustee and investigators, supporting the return of as much client funds as possible and as soon as possible. Events like this impact the entire industry, which is why we want to get involved if there’s a way we can help.
About a month ago, on January 26, QuadrigaCX (a Canadian-based crypto exchange with clients around the world) suspended operations. Seven weeks prior, their CEO passed away suddenly and unexpectedly, leaving the business without a continuity plan. Supposedly, he was the only person who knew the location of and/or could access the client funds (fiat and crypto) totaling approximately $190 million US dollars (belonging to 115,000 clients). Some say the events and circumstances surrounding this case are too suspicious to be believed.
Kraken wants to bring awareness and attention to this case, in hopes that we can help discover some or all of the missing client funds.
Listen and/or watch our podcast to hear the many facts of the case so you can help us solve this mystery. We reveal our own analysis and subjective assessment of the most plausible explanations or theories based on our experience as exchange operators.
EP 3: Chasing the Conspiracy (what we may know of so far) EP 4: Solving the Conspiracy (what we think happened) After reviewing the episodes, do you know where the missing client funds are? Do you know who may know something that can help law enforcement locate the funds?
If so, let us know and we’ll pass your tips on to law enforcement. Kraken is giving up to $100,000 USD (fiat or crypto) as a reward for the tip(s) that best lead to the discovery of the missing $190 million US dollars. Go here to submit your tips or leads. With your help, Kraken is committed to supporting law enforcement in solving this case.
Go to our podcast page to listen and/or watch these and other episodes of the Kraken “How to Grow a Decacorn” podcast.
Thank you for choosing Kraken, the trusted and secure digital assets exchange.
The Kraken Team
Important terms: Kraken is offering this reward for information leading to significant progress or discovery of the all or some of the missing client funds. It is up to our sole discretion which tips warrant a reward, if any. The total of all rewards will not exceed $100,000 USD. Kraken may end this reward program at any point in time. All leads collected by Kraken will be provided to the FBI, RCMP or other law enforcement authorities, who have an active interest in this case.
spread the word Twitter Facebook This communication is a commercial message and its contents are intended for the recipient only and may contain confidential, non-public and/or privileged information. If you have received this communication in error, do not read, duplicate or distribute. Kraken does not make recommendations on the suitability of a particular asset class, strategy, or course of action. Any investment decision you make is solely your responsibility. Please consider your individual position and financial goals before making an independent investment decision. Distributed by: Kraken.com, 237 Kearny St #102, San Francisco, CA 94108. This email contains important updates from Kraken. Unsubscribe
submitted by kalangi99 to QuadrigaCX2 [link] [comments]

Help us discover the Quadriga coins - 100K reward

Hi ,
The Kraken mission is to accelerate the adoption of cryptocurrency so that the world can benefit from greater financial freedom and inclusion. This is why we’ve consistently done more than provide one of the best crypto exchange experiences.
Since 2014 we have invested significant resources and lent our crypto expertise to the MtGox trustee and investigators, supporting the return of as much client funds as possible and as soon as possible. Events like this impact the entire industry, which is why we want to get involved if there’s a way we can help.
About a month ago, on January 26, QuadrigaCX (a Canadian-based crypto exchange with clients around the world) suspended operations. Seven weeks prior, their CEO passed away suddenly and unexpectedly, leaving the business without a continuity plan. Supposedly, he was the only person who knew the location of and/or could access the client funds (fiat and crypto) totaling approximately $190 million US dollars (belonging to 115,000 clients). Some say the events and circumstances surrounding this case are too suspicious to be believed.
Kraken wants to bring awareness and attention to this case, in hopes that we can help discover some or all of the missing client funds.
Listen and/or watch our podcast to hear the many facts of the case so you can help us solve this mystery. We reveal our own analysis and subjective assessment of the most plausible explanations or theories based on our experience as exchange operators.
EP 3: Chasing the Conspiracy (what we may know of so far) EP 4: Solving the Conspiracy (what we think happened) After reviewing the episodes, do you know where the missing client funds are? Do you know who may know something that can help law enforcement locate the funds?
If so, let us know and we’ll pass your tips on to law enforcement. Kraken is giving up to $100,000 USD (fiat or crypto) as a reward for the tip(s) that best lead to the discovery of the missing $190 million US dollars. Go here to submit your tips or leads. With your help, Kraken is committed to supporting law enforcement in solving this case.
Go to our podcast page to listen and/or watch these and other episodes of the Kraken “How to Grow a Decacorn” podcast.
Thank you for choosing Kraken, the trusted and secure digital assets exchange.
The Kraken Team
Important terms: Kraken is offering this reward for information leading to significant progress or discovery of the all or some of the missing client funds. It is up to our sole discretion which tips warrant a reward, if any. The total of all rewards will not exceed $100,000 USD. Kraken may end this reward program at any point in time. All leads collected by Kraken will be provided to the FBI, RCMP or other law enforcement authorities, who have an active interest in this case.
spread the word Twitter Facebook This communication is a commercial message and its contents are intended for the recipient only and may contain confidential, non-public and/or privileged information. If you have received this communication in error, do not read, duplicate or distribute. Kraken does not make recommendations on the suitability of a particular asset class, strategy, or course of action. Any investment decision you make is solely your responsibility. Please consider your individual position and financial goals before making an independent investment decision. Distributed by: Kraken.com, 237 Kearny St #102, San Francisco, CA 94108. This email contains important updates from Kraken. Unsubscribe
submitted by kalangi99 to BitcoinCA [link] [comments]

Need some clarification RE: TFSA and Crypto

So, according to Wikipedia and the CRA:
Eligible investments[edit] A TFSA can hold any investments that are RRSP-eligible, including publicly traded shares on eligible exchanges, eligible shares of private corporations, certain debt obligations, instalment receipts, money denominated in any currency, trust interests including mutual funds and real estate investment trusts, annuity contracts, warrants, rights and options, registered investments, royalty units, partnership units, and depository receipts.[16]
The major one in there for this purpose is "money denominated in any currency".
I'm currently staring down the barrel of some very nice potential gains, though not yet realized.
I opened a TFSA basically as soon as they were available, but have never contributed, so I have my full eligibility for contributions.
Here are what my plans are moving forward:
  1. Once the Crypto gains are realized, cash out and put it directly into TFSA.
  2. Using a Canadian based exchange, reinvest the money from TFSA back into crypto.
  3. From there on out, if my understanding is correct, future gains are no longer taxable and can be re-deposited directly into the TFSA without it affecting my contribution limits.
Questions:
  1. Will the fact of having deposited the proceeds into TFSA prior to filing for income taxes negate any portion of that income from taxation for the 2017 tax year?
  2. Does funding my Canadian based Crypto Exchange account from my TFSA constitute a valid mechanism for moving money to and from the TFSA?
  3. Is there any distinction made by the CRA between these actions being classified as "day trading" vs "speculative investing"? I will not be day or swing trading to make small profits, my intentions are to invest in ICO's and wait for these investments to mature (token makes it to external exchange) before selling.
  4. Part of this strategy is taking appreciated tokens from ICO's for high yield investment platforms and using them to generate loans of several thousands of dollars, and earning daily interest. Are the gains from this interest protected by the initial source of investment income having come from the TFSA?
Thanks in advance, posting from BC.
submitted by CryptoKane to PersonalFinanceCanada [link] [comments]

Made a walkthrough video of CoinField, a Canadian crypto exchange which uses XRP as a base pair!

Made a walkthrough video of CoinField, a Canadian crypto exchange which uses XRP as a base pair! submitted by stellarowl12 to Ripple [link] [comments]

Made a walkthrough video of CoinField, a Canadian crypto exchange which uses XRP as a base pair!

Made a walkthrough video of CoinField, a Canadian crypto exchange which uses XRP as a base pair! submitted by stellarowl12 to XRP [link] [comments]

XRP-Based Canadian Crypto Exchange CoinField Goes Live, Offers Service to 61 Countries https://goo.gl/fMQP77 - Crypto Insider Info - Whales's

Posted at: November 5, 2018 at 03:09PM
By:
XRP-Based Canadian Crypto Exchange CoinField Goes Live, Offers Service to 61 Countries https://goo.gl/fMQP77
Automate your Trading via Crypto Bot : https://ift.tt/2EU8PEX
Join Telegram Channel for FREE Crypto Bot: Crypto Signal
submitted by cryptotradingbot to cryptobots [link] [comments]

Ethereum cryptocurrency was founded in 2014 by Russian-born Canadian programmer Vitaly Buterin. This digital currency was developed as an alternative to bitcoin. Ethereum is based on the blockchain technology. It can be bought on cryptocurrency exchanges and exchanged for any other crypto asset.

Ethereum cryptocurrency was founded in 2014 by Russian-born Canadian programmer Vitaly Buterin. This digital currency was developed as an alternative to bitcoin. Ethereum is based on the blockchain technology. It can be bought on cryptocurrency exchanges and exchanged for any other crypto asset. submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Ethereum cryptocurrency was founded in 2014 by Russian-born Canadian programmer – Vitaly Buterin. This digital currency was developed as an alternative to bitcoin. Ethereum is based on the blockchain technology. It can be bought on cryptocurrency exchanges and exchanged for any other crypto asset.

Ethereum cryptocurrency was founded in 2014 by Russian-born Canadian programmer – Vitaly Buterin. This digital currency was developed as an alternative to bitcoin. Ethereum is based on the blockchain technology. It can be bought on cryptocurrency exchanges and exchanged for any other crypto asset. submitted by aspire0202 to BitcoinAll [link] [comments]

Investment Thesis: Why investing in POW.TO (Power Corporation of Canada) now is an investment in a future high market cap Wealthsimple IPO

I have seen some posts here wondering about the wisdom of investing in Wealthsimple's parent company, Power Corporation of Canada (POW.TO). I decided to look more into this, decided to post my investment thesis and research on why I, long-term, I have a very bullish view on Wealthsimple (and by extension POW.TO), and why I think this is equal to being an early stage investor in a Wealthsimple IPO.

Overview

Current Products

Investment Rounds

WS has had many successful rounds of funding and a vote of confidence from both its parent POW.TO and other multinationals investing in fintech.

Growth

WS has been extremely aggressive in targeting growth areas. Wealthsimple’s CEO Mike Katchen has said he wants to position the company as a “full-stack” financial services company. Here are some of their current expansion areas:

People

WS is run by young guys who have big ambitions and plans for the company. Sometimes there are CEOs with the intangibles that can really drive a company's growth, and from what I can glean, I think the company has a lot of potential here in terms of vision by its leaders. You can read more about the founders here
Quote sfrom CEO: Michael Katchen
On being laughed out of the boardroom when he proposed his idea for Wealthsimple:
Within the last month, Wealthsimple has also opened an office in London. Katchen said a push into the European market is “possible” as its “ambitions are global,” but right now the Canadian and U.S. markets are “a lot to chew.” It is a far cry from the company’s early days: Katchen said he was “laughed out of the boardroom” for laying out a global vision for Wealthsimple at a time when they had just $1.9-million in funding and 20 users***.***“It’s a very personal mission of mine since I moved back from California, to inspire more Canadian companies to think big and to think internationally about the businesses that they’re building,” he said. (reference)
On Wealthsimple's growth in the next 10-15 years:
Wealthsimple has more than $5 billion in assets under management and 175,000 customers in Canada, the U.S. and U.K. He sees that reaching $1 trillion 15 years. “We’re just getting started,” he said. “Our plans are to get to millions of clients in the next five years.” (reference)

Brand Value and Design

Out of all the financial services company in Canada, WS probably has the most cohesive and smart design concept across its platforms and products. I see the value in Wealthsimple in not just the assets they have under management, but also the value of the brand itself. I mean, what kind of financial services company makes a blog post about their branding colour scheme and font choices? Also see: Wealthsimple’s advertisement earlier this year capturing 4 million views on Youtube.
There also seems to be very strong brand awareness and brand loyalty amongst its users. I think a lot of users find WS refreshing as a financial services company because they cut through the "bullshit" and legalese, and try to simply things for the consumer. They also have their own in house team of designers and creative directors to do branding, design, and advertising, and this kind of vertical integration is generally unheard of in the financial services industry (reference).

Potential IPO?

Interestingly, the CEO’s ultimate goal is to take the company public. Therefore, I see an investment in POW.TO as being an early stage pre-IPO investor in WS (reference).
The goal is to get Wealthsimple to the size and scale to go public, something that Katchen said he’s “obsessed with.” While admitting that an IPO was still a few years down the road, Katchen already has a target of $20 billion in assets under administration (AUA) as the tipping point (the company recently announced $4.3 billion in AUA as of Q1 2019) (reference)

Future Potential

Ultimately, my sense is that a spun-out Wealthsimple IPO eventually be worth a lot, perhaps even more than POW.TO at some point. Obviously the company is losing money right now, and no where even close to an IPO, and there are still many chances that this company could flop. The best analogy that I can think of is when Yahoo bought an early stake in Alibaba (BABA) back in the early 2000s, and there came a point where their stake in BABA was worth more than Yahoo’s core business. I think an investment in POW.TO now is an early investment in WS before it goes public. (reference)

Risks

The X Factor

What I find particularly compelling about WS is they have aggressively positioned themselves to be a disruptor in the Canadian financial services industry. This is an area that has traditionally been thought to be a firewall for the Big Five Banks. There is also a generational gap in investing approaches, knowledge, and strategy, and I think WS has positioned itself nicely with first-time investors. My sense is that COVID-19 has also captured a huge amount of young adults with its trading app in the last few months, who will continue to use Wealthsimple products in the future. The average age of its user is around 34. As younger individuals are more comfortable with moving away traditional banking products, I think Wealthsimple’s product offering offers significant advantages over its competitors.

Power Corp is a Good Home

Currently POW.TO is trading at $26.30, down from its 52-week high of $35.15. I see an investment in POW.TO now as fairly low risk, and while WS grows, and there is also the added benefit of a high dividend stock. One of the most confusing things I found about Power Corp was its confusing corporate structure where there were two stocks, Power Financial Corp, and Power Corp of Canada. Fortunately, in Dec 2019, they simplified and consolidated the stocks, which also simplifies the holding structure of WS. I currently see POW.TO has a good stock to hold as well if you're a dividend holder, with a dividend of 6.86%.
Also, POW.TO is patient enough to bide its time and let its investment in WS grow, unlike a VC that might want to sell it quick. For example, the reason why WS went with POW.TO instead of the traditional VC route is explained here:
Katchen has directly addressed the question of why he did not go the traditional VC route recently, saying: If you are a business that requires perhaps decades to achieve the vision you have, well, if you’re not going to be able to generate the kind of returns that venture needs is they will force you to sell yourself, they will force you to go public before you’re ready, or they will just forget about you because you’re going to be a write off. And so Katchen essentially flipped Wealthsimple to Power Financial. Power is well known as a conservative, patient, long-term investor. (https://opmwars.substack.com/p/the-wealthsimple-founders-before)
My belief is there is a huge unrecognized potential in POW.TO's massive ownership stake in WS that will be realized maybe 5-10 years down the road. I didn't really dive into the financials of POW.TO in relation to WS's performance, because the earnings reports do no actually say much about WS. I'm aware of the main criticisms that POW.TO is a mature company and dividend stock that has been trading sideways for many years, and the fact that WS is currently not a profitable company. I am not a professional investor, and this is just my amateur research, so I certainly welcome any comments/criticism of this thesis that people on this subreddit might have! (Please be gentle on me!).

Other Readings

- https://betakit.com/wealthsimple-raises-100-million-from-allianz-x-to-build-a-full-stack-financial-service/
- https://betakit.com/power-financial-claims-89-percent-stake-in-wealthsimple-following-new-30-million-investment/
- https://www.powercorporation.com/media/uploads/reports/quartepcc-2020-q2-eng_3KVPXLd.pdf

Edit: Thanks to all for the thoughtful comments about POW's size and other holdings relative to WS, and that WS is basically a tiny, tiny portion of POW.TO. Again, I am just an amateur investor, appreciate we can discuss these points on this forum! And fair point is taken that WS's margins are also razor thin right now. I guess I am buying more into the CEO's vision of growth (see this video about his confidence about getting to $1 trillion AUM (!) in the next 8 years), rather than the current financial status or size of the company. Call me delusional if you will :P.
In any case, glad that I was able to flush out these thoughts with the CanadianInvestor community! I do wonder if WS's expansion into a broad-based financial services company (into mortgages, credit lines, and life insurance) might increase their profitability and size over time. https://www.bnnbloomberg.ca/wealthsimple-targets-canada-s-richest-with-grayhawk-partnership-1.1301993
submitted by soggybread to CanadianInvestor [link] [comments]

How the TFSA works

(Updated August 9th, 2020)

Background


You may have heard about off-shore tax havens of questionable legality where wealthy people invest their money in legal "grey zones" and don't pay any tax, as featured for example, in Netflix's drama, The Laundromat.

The reality is that the Government of Canada offers 100% tax-free investing throughout your life, with unlimited withdrawals of your contributions and profits, and no limits on how much you can make tax-free. There is also nothing to report to the Canada Revenue Agency. Although Britain has a comparable program, Canada is the only country in the world that offers tax-free investing with this level of power and flexibility.

Thank you fellow Redditors for the wonderful Gold Award and Today I Learned Award!

(Unrelated but Important Note: I put a link at the bottom for my margin account explainer. Many people are interested in margin trading but don't understand the math behind margin accounts and cannot find an explanation. If you want to do margin, but don't know how, click on the link.)

As a Gen-Xer, I wrote this post with Millennials in mind, many of whom are getting interested in investing in ETFs, individual stocks, and also my personal favourite, options. Your generation is uniquely positioned to take advantage of this extremely powerful program at a relatively young age. But whether you're in your 20's or your 90's, read on!

Are TFSAs important? In 2020 Canadians have almost 1 trillion dollars saved up in their TFSAs, so if that doesn't prove that pennies add up to dollars, I don't know what does. The TFSA truly is the Great Canadian Tax Shelter.

I will periodically be checking this and adding issues as they arise, to this post. I really appreciate that people are finding this useful. As this post is now fairly complete from a basic mechanics point of view, and some questions are already answered in this post, please be advised that at this stage I cannot respond to questions that are already covered here. If I do not respond to your post, check this post as I may have added the answer to the FAQs at the bottom.

How to Invest in Stocks


A lot of people get really excited - for good reason - when they discover that the TFSA allows you to invest in stocks, tax free. I get questions about which stocks to buy.

I have made some comments about that throughout this post, however; I can't comprehensively answer that question. Having said that, though, if you're interested in picking your own stocks and want to learn how, I recommmend starting with the following videos:

The first is by Peter Lynch, a famous American investor in the 80's who wrote some well-respected books for the general public, like "One Up on Wall Street." The advice he gives is always valid, always works, and that never changes, even with 2020's technology, companies and AI:

https://www.youtube.com/watch?v=cRMpgaBv-U4&t=2256s


The second is a recording of a university lecture given by investment legend Warren Buffett, who expounds on the same principles:

https://www.youtube.com/watch?v=2MHIcabnjrA

Please note that I have no connection to whomever posted the videos.

Introduction


TFSAs were introduced in 2009 by Stephen Harper's government, to encourage Canadians to save.

The effect of the TFSA is that ordinary Canadians don't pay any income or capital gains tax on their securities investments.

Initial uptake was slow as the contribution rules take some getting used to, but over time the program became a smash hit with Canadians. There are about 20 million Canadians with TFSAs, so the uptake is about 70%- 80% (as you have to be the age of majority in your province/territory to open a TFSA).

Eligibility to Open a TFSA


You must be a Canadian resident with a valid Social Insurance Number to open a TFSA. You must be at the voting age in the province in which you reside in order to open a TFSA, however contribution room begins to accumulate from the year in which you turned 18. You do not have to file a tax return to open a TFSA. You do not need to be a Canadian citizen to open and contribute to a TFSA. No minimum balance is required to open a TFSA.

Where you Can Open a TFSA


There are hundreds of financial institutions in Canada that offer the TFSA. There is only one kind of TFSA; however, different institutions offer a different range of financial products. Here are some examples:


Insurance


Your TFSA may be covered by either CIFP or CDIC insuranceor both. Ask your bank or broker for details.

What You Can Trade and Invest In


You can trade the following:


What You Cannot Trade


You cannot trade:

Again, if it requires a margin account, it's out. You cannot buy on margin in a TFSA. Nothing stopping you from borrowing money from other sources as long as you stay within your contribution limits, but you can't trade on margin in a TFSA. You can of course trade long puts and calls which give you leverage.

Rules for Contribution Room


Starting at 18 you get a certain amount of contribution room.

According to the CRA:
You will accumulate TFSA contribution room for each year even if you do not file an Income Tax and Benefit Return or open a TFSA.
The annual TFSA dollar limit for the years 2009 to 2012 was $5,000.
The annual TFSA dollar limit for the years 2013 and 2014 was $5,500.
The annual TFSA dollar limit for the year 2015 was $10,000.
The annual TFSA dollar limit for the years 2016 to 2018 was $5,500.
The annual TFSA dollar limit for the year 2019 is $6,000.
The TFSA annual room limit will be indexed to inflation and rounded to the nearest $500.
Investment income earned by, and changes in the value of TFSA investments will not affect your TFSA contribution room for the current or future years.

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/tax-free-savings-account/contributions.html
If you don't use the room, it accumulates indefinitely.

Trades you make in a TFSA are truly tax free. But you cannot claim the dividend tax credit and you cannot claim losses in a TFSA against capital gains whether inside or outside of the TFSA. So do make money and don't lose money in a TFSA. You are stuck with the 15% withholding tax on U.S. dividend distributions unlike the RRSP, due to U.S. tax rules, but you do not pay any capital gains on sale of U.S. shares.

You can withdraw *both* contributions *and* capital gains, no matter how much, at any time, without penalty. The amount of the withdrawal (contributions+gains) converts into contribution room in the *next* calendar year. So if you put the withdrawn funds back in the same calendar year you take them out, that burns up your total accumulated contribution room to the extent of the amount that you re-contribute in the same calendar year.

Examples


E.g. Say you turned 18 in 2016 in Alberta where the age of majority is 18. It is now sometime in 2020. You have never contributed to a TFSA. You now have $5,500+$5,500+$5,500+$6,000+$6,000 = $28,500 of room in 2020. In 2020 you manage to put $20,000 in to your TFSA and you buy Canadian Megacorp common shares. You now have $8,500 of room remaining in 2020.

Sometime in 2021 - it doesn't matter when in 2021 - your shares go to $100K due to the success of the Canadian Megacorp. You also have $6,000 worth of room for 2021 as set by the government. You therefore have $8,500 carried over from 2020+$6,000 = $14,500 of room in 2021.

In 2021 you sell the shares and pull out the $100K. This amount is tax-free and does not even have to be reported. You can do whatever you want with it.

But: if you put it back in 2021 you will over-contribute by $100,000 - $14,500 = $85,500 and incur a penalty.

But if you wait until 2022 you will have $14,500 unused contribution room carried forward from 2021, another $6,000 for 2022, and $100,000 carried forward from the withdrawal 2021, so in 2022 you will have $14,500+$6,000+$100,000 = $120,500 of contribution room.

This means that if you choose, you can put the $100,000 back in in 2022 tax-free and still have $20,500 left over. If you do not put the money back in 2021, then in 2022 you will have $120,500+$6,000 = $126,500 of contribution room.

There is no age limit on how old you can be to contribute, no limit on how much money you can make in the TFSA, and if you do not use the room it keeps carrying forward forever.

Just remember the following formula:

This year's contribution room = (A) unused contribution room carried forward from last year + (B) contribution room provided by the government for this year + (C) total withdrawals from last year.

EXAMPLE 1:

Say in 2020 you never contributed to a TFSA but you were 18 in 2009.
You have $69,500 of unused room (see above) in 2020 which accumulated from 2009-2020.
In 2020 you contribute $50,000, leaving $19,500 contribution room unused for 2020. You buy $50,000 worth of stock. The next day, also in 2020, the stock doubles and it's worth $100,000. Also in 2020 you sell the stock and withdraw $100,000, tax-free.

You continue to trade stocks within your TFSA, and hopefully grow your TFSA in 2020, but you make no further contributions or withdrawals in 2020.


The question is, How much room will you have in 2021?
Answer: In the year 2021, the following applies:
(A) Unused contribution room carried forward from last year, 2020: $19,500
(B) Contribution room provided by government for this year, 2021: $6,000
(C) Total withdrawals from last year, 2020: $100,000

Total contribution room for 2021 = $19,500+6,000+100,000 = $125,500.

EXAMPLE 2:
Say between 2020 and 2021 you decided to buy a tax-free car (well you're still stuck with the GST/PST/HST/QST but you get the picture) so you went to the dealer and spent $25,000 of the $100,000 you withdrew in 2020. You now have a car and $75,000 still burning a hole in your pocket. Say in early 2021 you re-contribute the $75,000 you still have left over, to your TFSA. However, in mid-2021 you suddenly need $75,000 because of an emergency so you pull the $75,000 back out. But then a few weeks later, it turns out that for whatever reason you don't need it after all so you decide to put the $75,000 back into the TFSA, also in 2021. You continue to trade inside your TFSA but make no further withdrawals or contributions.

How much room will you have in 2022?
Answer: In the year 2022, the following applies:

(A) Unused contribution room carried forward from last year, 2021: $125,500 - $75,000 - $75,000 = -$24,500.

Already you have a problem. You have over-contributed in 2021. You will be assessed a penalty on the over-contribution! (penalty = 1% a month).

But if you waited until 2022 to re-contribute the $75,000 you pulled out for the emergency.....

In the year 2022, the following would apply:
(A) Unused contribution room carried forward from last year, 2021: $125,500 -$75,000 =$50,500.
(B) Contribution room provided by government for this year, 2022: $6,000
(C) Total withdrawals from last year, 2020: $75,000

Total contribution room for 2022 = $50,500 + $6,000 + $75,000 = $131,500.
...And...re-contributing that $75,000 that was left over from your 2021 emergency that didn't materialize, you still have $131,500-$75,000 = $56,500 of contribution room left in 2022.

For a more comprehensive discussion, please see the CRA info link below.

FAQs That Have Arisen in the Discussion and Other Potential Questions:



  1. Equity and ETF/ETN Options in a TFSA: can I get leverage? Yes. You can buy puts and calls in your TFSA and you only need to have the cash to pay the premium and broker commissions. Example: if XYZ is trading at $70, and you want to buy the $90 call with 6 months to expiration, and the call is trading at $2.50, you only need to have $250 in your account, per option contract, and if you are dealing with BMO IL for example you need $9.95 + $1.25/contract which is what they charge in commission. Of course, any profits on closing your position are tax-free. You only need the full value of the strike in your account if you want to exercise your option instead of selling it. Please note: this is not meant to be an options tutorial; see the Montreal Exchange's Equity Options Reference Manual if you have questions on how options work.
  2. Equity and ETF/ETN Options in a TFSA: what is ok and not ok? Long puts and calls are allowed. Covered calls are allowed, but cash-secured puts are not allowed. All other option trades are also not allowed. Basically the rule is, if the trade is not a covered call and it either requires being short an option or short the stock, you can't do it in a TFSA.
  3. Live in a province where the voting age is 19 so I can't open a TFSA until I'm 19, when does my contribution room begin? Your contribution room begins to accumulate at 18, so if you live in province where the age of majority is 19, you'll get the room carried forward from the year you turned 18.
  4. If I turn 18 on December 31, do I get the contribution room just for that day or for the whole year? The whole year.
  5. Do commissions paid on share transactions count as withdrawals? Unfortunately, no. If you contribute $2,000 cash and you buy $1,975 worth of stock and pay $25 in commission, the $25 does not count as a withdrawal. It is the same as if you lost money in the TFSA.
  6. How much room do I have? If your broker records are complete, you can do a spreadsheet. The other thing you can do is call the CRA and they will tell you.
  7. TFSATFSA direct transfer from one institution to another: this has no impact on your contributions or withdrawals as it counts as neither.
  8. More than 1 TFSA: you can have as many as you want but your total contribution room does not increase or decrease depending on how many accounts you have.
  9. Withdrawals that convert into contribution room in the next year. Do they carry forward indefinitely if not used in the next year? Answer :yes.
  10. Do I have to declare my profits, withdrawals and contributions? No. Your bank or broker interfaces directly with the CRA on this. There are no declarations to make.
  11. Risky investments - smart? In a TFSA you want always to make money, because you pay no tax, and you want never to lose money, because you cannot claim the loss against your income from your job. If in year X you have $5,000 of contribution room and put it into a TFSA and buy Canadian Speculative Corp. and due to the failure of the Canadian Speculative Corp. it goes to zero, two things happen. One, you burn up that contribution room and you have to wait until next year for the government to give you more room. Two, you can't claim the $5,000 loss against your employment income or investment income or capital gains like you could in a non-registered account. So remember Buffett's rule #1: Do not lose money. Rule #2 being don't forget the first rule. TFSA's are absolutely tailor-made for Graham-Buffett value investing or for diversified ETF or mutual fund investing, but you don't want to buy a lot of small specs because you don't get the tax loss.
  12. Moving to/from Canada/residency. You must be a resident of Canada and 18 years old with a valid SIN to open a TFSA. Consult your tax advisor on whether your circumstances make you a resident for tax purposes. Since 2009, your TFSA contribution room accumulates every year, if at any time in the calendar year you are 18 years of age or older and a resident of Canada. Note: If you move to another country, you can STILL trade your TFSA online from your other country and keep making money within the account tax-free. You can withdraw money and Canada will not tax you. But you have to get tax advice in your country as to what they do. There restrictions on contributions for non-residents. See "non residents of Canada:" https://www.canada.ca/content/dam/cra-arc/formspubs/pub/rc4466/rc4466-19e.pdf
  13. The U.S. withholding tax. Dividends paid by U.S.-domiciled companies are subject to a 15% U.S. withholding tax. Your broker does this automatically at the time of the dividend payment. So if your stock pays a $100 USD dividend, you only get $85 USD in your broker account and in your statement the broker will have a note saying 15% U.S. withholding tax. I do not know under what circumstances if any it is possible to get the withheld amount. Normally it is not, but consult a tax professional.
  14. The U.S. withholding tax does not apply to capital gains. So if you buy $5,000 USD worth of Apple and sell it for $7,000 USD, you get the full $2,000 USD gain automatically.
  15. Tax-Free Leverage. Leverage in the TFSA is effectively equal to your tax rate * the capital gains inclusion rate because you're not paying tax. So if you're paying 25% on average in income tax, and the capital gains contribution rate is 50%, the TFSA is like having 12.5%, no margin call leverage costing you 0% and that also doesn't magnify your losses.
  16. Margin accounts. These accounts allow you to borrow money from your broker to buy stocks. TFSAs are not margin accounts. Nothing stopping you from borrowing from other sources (such as borrowing cash against your stocks in an actual margin account, or borrowing cash against your house in a HELOC or borrowing cash against your promise to pay it back as in a personal LOC) to fund a TFSA if that is your decision, bearing in mind the risks, but a TFSA is not a margin account. Consider options if you want leverage that you can use in a TFSA, without borrowing money.
  17. Dividend Tax Credit on Canadian Companies. Remember, dividends paid into the TFSA are not eligible to be claimed for the credit, on the rationale that you already got a tax break.
  18. FX risk. The CRA allows you to contribute and withdraw foreign currency from the TFSA but the contribution/withdrawal accounting is done in CAD. So if you contribute $10,000 USD into your TFSA and withdraw $15,000 USD, and the CAD is trading at 70 cents USD when you contribute and $80 cents USD when you withdraw, the CRA will treat it as if you contributed $14,285.71 CAD and withdrew $18,75.00 CAD.
  19. OTC (over-the-counter stocks). You can only buy stocks if they are listed on an approved exchange ("approved exchange" = TSX, TSX-V, NYSE, NASDAQ and about 25 or so others). The U.S. pink sheets "over-the-counter" market is an example of a place where you can buy stocks, that is not an approved exchange, therefore you can't buy these penny stocks. I have however read that the CRA make an exception for a stock traded over the counter if it has a dual listing on an approved exchange. You should check that with a tax lawyer or accountant though.
  20. The RRSP. This is another great tax shelter. Tax shelters in Canada are either deferrals or in a few cases - such as the TFSA - outright tax breaks, The RRSP is an example of a deferral. The RRSP allows you to deduct your contributions from your income, which the TFSA does not allow. This deduction is a huge advantage if you earn a lot of money. The RRSP has tax consequences for withdrawing money whereas the TFSA does not. Withdrawals from the RRSP are taxable whereas they are obviously not in a TFSA. You probably want to start out with a TFSA and maintain and grow that all your life. It is a good idea to start contributing to an RRSP when you start working because you get the tax deduction, and then you can use the amount of the deduction to contribute to your TFSA. There are certain rules that claw back your annual contribution room into an RRSP if you contribute to a pension. See your tax advisor.
  21. Pensions. If I contribute to a pension does that claw back my TFSA contribution room or otherwise affect my TFSA in any way? Answer: No.
  22. The $10K contribution limit for 2015. This was PM Harper's pledge. In 2015 the Conservative government changed the rules to make the annual government allowance $10,000 per year forever. Note: withdrawals still converted into contribution room in the following year - that did not change. When the Liberals came into power they switched the program back for 2016 to the original Harper rules and have kept the original Harper rules since then. That is why there is the $10,000 anomaly of 2015. The original Harper rules (which, again, are in effect now) called for $500 increments to the annual government allowance as and when required to keep up with inflation, based on the BofC's Consumer Price Index (CPI). Under the new Harper rules, it would have been $10,000 flat forever. Which you prefer depends on your politics but the TFSA program is massively popular with Canadians. Assuming 1.6% annual CPI inflation then the annual contribution room will hit $10,000 in 2052 under the present rules. Note: the Bank of Canada does an excellent and informative job of explaining inflation and the CPI at their website.
  23. Losses in a TFSA - you cannot claim a loss in a TFSA against income. So in a TFSA you always want to make money and never want to lose money. A few ppl here have asked if you are losing money on your position in a TFSA can you transfer it in-kind to a cash account and claim the loss. I would expect no as I cannot see how in view of the fact that TFSA losses can't be claimed, that the adjusted cost base would somehow be the cost paid in the TFSA. But I'm not a tax lawyeaccountant. You should consult a tax professional.
  24. Transfers in-kind to the TFSA and the the superficial loss rule. You can transfer securities (shares etc.) "in-kind," meaning, directly, from an unregistered account to the TFSA. If you do that, the CRA considers that you "disposed" of, meaning, equivalent to having sold, the shares in the unregistered account and then re-purchased them at the same price in the TFSA. The CRA considers that you did this even though the broker transfers the shares directly in the the TFSA. The superficial loss rule, which means that you cannot claim a loss for a security re-purchased within 30 days of sale, applies. So if you buy something for $20 in your unregistered account, and it's trading for $25 when you transfer it in-kind into the TFSA, then you have a deemed disposition with a capital gain of $5. But it doesn't work the other way around due to the superficial loss rule. If you buy it for $20 in the unregistered account, and it's trading at $15 when you transfer it in-kind into the TFSA, the superficial loss rule prevents you from claiming the loss because it is treated as having been sold in the unregistered account and immediately bought back in the TFSA.
  25. Day trading/swing trading. It is possible for the CRA to try to tax your TFSA on the basis of "advantage." The one reported decision I'm aware of (emphasis on I'm aware of) is from B.C. where a woman was doing "swap transactions" in her TFSA which were not explicitly disallowed but the court rules that they were an "advantage" in certain years and liable to taxation. Swaps were subsequently banned. I'm not sure what a swap is exactly but it's not that someone who is simply making contributions according to the above rules would run afoul of. The CRA from what I understand doesn't care how much money you make in the TFSA, they care how you made it. So if you're logged on to your broker 40 hours a week and trading all day every day they might take the position that you found a way to work a job 40 hours a week and not pay any tax on the money you make, which they would argue is an "advantage," although there are arguments against that. This is not legal advice, just information.
  26. The U.S. Roth IRA. This is a U.S. retirement savings tax shelter that is superficially similar to the TFSA but it has a number of limitations, including lack of cumulative contribution room, no ability for withdrawals to convert into contribution room in the following year, complex rules on who is eligible to contribute, limits on how much you can invest based on your income, income cutoffs on whether you can even use the Roth IRA at all, age limits that govern when and to what extent you can use it, and strict restrictions on reasons to withdraw funds prior to retirement (withdrawals prior to retirement can only be used to pay for private medical insurance, unpaid medical bills, adoption/childbirth expenses, certain educational expenses). The TFSA is totally unlike the Roth IRA in that it has none of these restrictions, therefore, the Roth IRA is not in any reasonable sense a valid comparison. The TFSA was modeled after the U.K. Investment Savings Account, which is the only comparable program to the TFSA.
  27. The UK Investment Savings Account. This is what the TFSA was based off of. Main difference is that the UK uses a 20,000 pound annual contribution allowance, use-it-or-lose-it. There are several different flavours of ISA, and some do have a limited recontribution feature but not to the extent of the TFSA.
  28. Is it smart to overcontribute to buy a really hot stock and just pay the 1% a month overcontribution penalty? If the CRA believes you made the overcontribution deliberately the penalty is 100% of the gains on the overcontribution, meaning, you can keep the overcontribution, or the loss, but the CRA takes the profit.
  29. Speculative stocks-- are they ok? There is no such thing as a "speculative stock." That term is not used by the CRA. Either the stock trades on an approved exchange or it doesn't. So if a really blue chip stock, the most stable company in the world, trades on an exchange that is not approved, you can't buy it in a TFSA. If a really speculative gold mining stock in Busang, Indonesia that has gone through the roof due to reports of enormous amounts of gold, but their geologist somehow just mysteriously fell out of a helicopter into the jungle and maybe there's no gold there at all, but it trades on an approved exchange, it is fine to buy it in a TFSA. Of course the risk of whether it turns out to be a good investment or not, is on you.
Remember, you're working for your money anyway, so if you can get free money from the government -- you should take it! Follow the rules because Canadians have ended up with a tax bill for not understanding the TFSA rules.
Appreciate the feedback everyone. Glad this basic post has been useful for many. The CRA does a good job of explaining TFSAs in detail at https://www.canada.ca/content/dam/cra-arc/formspubs/pub/rc4466/rc4466-19e.pdf

Unrelated but of Interest: The Margin Account

Note: if you are interested in how margin accounts work, I refer you to my post on margin accounts, where I use a straightforward explanation of the math behind margin accounts to try and give readers the confidence that they understand this powerful leveraging tool.

How Margin Loans Work - a Primer

submitted by KhingoBhingo to CanadianInvestor [link] [comments]

Canadian BTC Exchanges

Looking to dip my toes into some crypto-coins from Canadian Exchanges and am having difficulty finding current reviews of the exchanges I'm considering the following and looking to make smallish trades with a few exchanges to see what I can do in 6-12 months while I learn the ropes. Seems tho that any reviews I can find on most of these are a year or more and hard to see what is legit vs bluffery.
The "predatory exchange checklist" sub has been helpful, for some in narrowing things down for me - hoping the hive-mind can give me some last-minute pointers.
https://www.reddit.com/BitcoinCA/comments/getkpf/psa_predatory_exchange_checklist/
I'm thinking of starting off with Ethereum, Stellar, Ripple or even Bitcoin Cash to start exploring. I have my own off-line wallet and am hoping to diversify a bit in the process.
For exchanges, I'm leaning towards Coinsmart or Newton but would appreciate any advice (good or bad) to help steer me in the right direction if at all possible. I'm ok with a bit of a leap of faith in my first foray as I'll be limiting my exposure, and try to make sure my risks are educated wherever possible.
Candidates exchanges:
Alternatives Candidates:
submitted by frontalnugity to BitcoinCA [link] [comments]

Rule Britannia Progress Report I: Land of Hope and Glory

Hello, I'm Rule Britannia Lead Tiberium, and I'm proud to finally get out our first dev diary! We have been perfectionists about our content, not wanting to mislead or disappoint, so with many cuts and revisions we have finally belted this out for you. Of course, the current pandemic and other commitments have been a drain on our productivity, but we hope this will reinvigorate the community.
Preface aside, this will mark the first Rule Britannia progress report, specifically about Britain's position in the mod. As it is the foundation on which the mod lies, it is by far the most important nation although one of the most absurd due to its surreal circumstances. As such our lore descriptions will be limited in scope due to how impossible of a task it is to summarize it with our current workforce.
(note: read the events if you want more context! They are designed to be enjoyable to read, but are not required to understand the PR!)
PREMISE:
Britain, like in our timeline, was empowered by the events of the Glorious Revolution. However, instead of abandoning his Dutch ambitions, William III chose instead to ally his homeland with his new domain, leading to absolute naval hegemony and great profits. With Whigs dominant in Parliament, absolutism in Britain appeared to be on its way out. In addition, Britain masterfully defeated France in the War of Spanish Succession, like it did in our timeline. From here, the Empire would only gain strength as it squashed any other European power in consecutive wars until the present start-date. Due to the entrenched Whig parliament, the Jacobite uprisings of the 1740s never occurred, and remained a peaceful movement among some High Tories, and consequently the Highland Clearances in Scotland were never carried out. The 1700s remained prosperous, with continental affairs continuing the pattern of victories for the Empire and its allies. When the 13 Colonies and Canadian provinces revolted in the 1770s due to the rising tax rates and presence of Enlightenment liberalism, they were quickly crushed by the government after concessions were promised in exchange for their loyalty. This would eventually morph into the Commonwealth of North America, as seen in 1936.
The 1800s would see this era of dominance continue. When the French revolution sparked after rising bread prices and royal incompetence wrecked the French economy, Britain was swift to intervene and established an occupational government after several years of fighting which restored the Bourbon monarchy, along with coalition allies Prussia and Austria. After Spain joined France for a brief period, it was forced to concede California, Florida, and the Louisiana territory previously ceded from France. From here, Britain continued to expand its mighty empire through all corners of the Earth, soundly defeating France several more times, the upstart Prussian giant, the Ottoman Empire, Spain with its ally Portugal, Russia, and even the mighty Qing empire. Clearly, it was poised for world domination.
However, throughout all of this time, Parliament generally held the sway with the reigning monarchs preferring to delegate responsibilities to a trusted Prime Minister. Whigs and Tories, Liberals, and eventually Labour would all hold some importance, but one Prime Minister greatly altered the paradigm. Cecil Rhodes, a mining tycoon throughout Katanga, Zambezia, Bechuanaland, and the Cape had successfully clinched the Liberal leadership in the late 19th century. With his long premiership, he had defeated the Prussians, established the Commonwealth of Nations, and greatly restored the prominence of the then-reigning Victoria in Parliament, as he believed the Empire required a strong leader to guide it through the complexities of diplomacy, economics, and warfare without political squabbles interfering. This "Rhodes System" would define British politics until the start of the mod, which is why the nobility is much more prominent in-game.
As such, this is all we will say regarding lore for now. Our main focuses are quality, gameplay, and entertainment rather than lore and narrative, at least at the moment, hence the lack of emphasis.
THE STARTING SITUATION:
The United Kingdom of Great Britain and Ireland is the global hegemon. Present on every continent, in every sea, and all across the skies, Britain is undoubtedly perceived as invincible. King George V Windsor (formerly Hannover-Saxe-Coburg-Gotha before anti-Prussian sentiments necessitated a change) has been one of its most popular monarchs, much like his grandmother Victoria. Soundly beating Mexico and several other belligerents, he gained praise for his wartime leadership. In addition, he remained scandal-free unlike many of his relatives. Sympathetic to the issues of the common man and woman, but also exceptional at dealing with higher society, he is perceived as a model Briton.
However, his health is very much so in decline, at an impressive 70 years and ailing. He himself fears for the future, considering the beliefs of his eldest son Edward and the untimely death of his other son, Albert, in Mexico. Plus, Albert Victor, his disgraced brother, presides over India and yearns to return from his informal exile. Clearly, soon as he dies, Britain will face some political turmoil. Fortunately, however, his good friend the Viscount Hailsham, Douglas Hogg, is an experienced career politician who is known to handle any situation tactfully. A Tory but also a friend of many Labour and Liberal peers, he is the uniter Britain would call upon after the absence of its powerful monarch. Regardless of intrigue, the Empire seems to face a prosperous future ahead in the eyes of many.
https://imgur.com/jcrrFqf (intro event)
https://imgur.com/ZG8Kvpl (starting political screen)
Britain starts of course, with George V. His Majesty's Prime Minister, Douglas Hogg can be seen in an experimental GUI to the right.
Several national spirits mark what Britain has going for it, such as the expensive (and ongoing!) Anglo-Mexican War. Expected to be a quick victory, Mexico put up a strong resistance and fought with guerilla tactics in the Sierra Madre highlands and in its many deserts and jungles. In the May Offensive of 1931, even the Duke of York Albert was killed in action after Mexican mortars opened up deep behind enemy lines. As such, it remains a quagmire for the British armed forces used to naval supremacy and an accompanying naval invasion that'd quickly neuter the weakened opponent's forces. In the future, Britain will have to determine a strategy to avoid financial decay and finally vanquish the rebels.
The next national spirit is simply a buff resulting from the popular rule of the King.
The next national spirit is a debuff that signifies unrest in Ireland, due to the events following the disastrous famine of the 1840s and the continued Anglo dominance over land and rights within the Emerald Isle. As Britain's foremost domestic issue, you will have to debate whether Home Rule will keep Ireland content or whether other solutions are necessary.
The next spirit is the mod's namesake, well partially, "Britannia Rules the Waves", a sign of Britain's impregnable naval superiority which it holds over the rest of the world. Two steps above gunboat diplomacy, Britain is able to preserve its holdings and ensure domestic protection with its powerful armada sailing the seven seas.
Finally, the last national spirit is the sidelined parliament. It indicates Britain's rubber-stamp Westminster system that fails to accomplish anything more than it needs to, with the Coalition for the King largely dominant. While some Tories, Liberals, and Labour MPs have declined the label of the coalition, it is by no doubt the party which enables the enlightened absolutism present to this day. Composed of absolutists, aristocrats (despotic ideology), and Rhodians (formerly administrationist ideology), the Coalition for the King ensures a streamlined legislative process for the Empire.
THE DEATH OF KING GEORGE V:
Unfortunately, the Georgian era would not last forever. Meeting his tragic demise during the early hours of January 20th, 1936, George V passed away in his sleep.
https://imgur.com/DSyUVB5
https://cdn.discordapp.com/attachments/534553586282004491/616658010265092120/teaser.mp4 (superevent teased previously in Discord)
https://imgur.com/yCu0FML
Britain's people went into several days of mourning. An inspirational and upstanding man met his Lord, leaving his people behind for eternity. Many did not know what the future held without the King and former Crown Prince at the helm of the ship christened Britannia. However, Edward's coronation would bring times of joy and youth to the mournful public.
https://imgur.com/MVXMsef
EDWARD REX
https://imgur.com/Ve9cp8q
https://imgur.com/5v3cqjG
Parliament was quick to secure an effective transition from George to Edward. With some last-minute rituals, mourning, and commemorations, Edward was ready for his reign.
King Edward, with all of his controversies, was a welcome sight to the public. The decrepit George V deserved rest, and his son seemed eager to take the crown to restore Britain's political processes. His coronation was cast to be a great event that anyone could attend at Westminster Abbey. After all was said and done, the audience roared with applause, knowing that the young man would preside over decades of prosperity. After all, he had a comfortable parliamentary majority to work with and an excellent government.
https://imgur.com/kdzQ0mE
As part of his goodwill missions following coordination, King Edward was due to have a dinner with several prominent British businessmen in order to set a good fiscal policy for the upcoming year. Unfortunately, tragedy would strike once more. This time, a regicide.
https://imgur.com/HlDLvDN
While the police were quick to take down the suspect, things would only begin to get worse.
https://imgur.com/u84XAi0
https://imgur.com/dRqfizh
Now with both the victim left mangled on the ground and the assassin dead, the case appears to be hitting a dead end just as soon as it had begun. Parliament, with the backing of the outraged public, immediately chooses to launch an investigation into the double assassinations and their motives. (This will be covered more specifically at a later point.)
In addition to the investigation and the outrage following the shooting of the recently crowned King, there now lies a succession crisis. While it should logically go from George V, then to Prince of Wales Edward, then to Duke of York Albert, then to Duke of Gloucester Henry, an issue arises with the question of Albert Victor. Albert Victor, the disgraced brother of George V, was forced to abandon the throne. However, as he never signed an abdication decree in concordance with British law, some scholars maintain that he should be returned to the throne. With this dispute, it has officially become a succession crisis, with even some foreign houses staking a claim. This unprecedented political turmoil would prove to be a nightmare in no time.
HERE ENTERS THE SUCCESSION CRISIS:
https://imgur.com/jppruIE
Pictured is the succession crisis tree, which coincides with the investigation. In conjunction with the investigation, you will be able to pick a side to choose depending on who is found to be the most untrustworthy (was Albert Victor's status as Viceroy of India the means necessary for an assassin to kill Edward) or was it Henry (who had an Irishman kill the King for patriotic reasons)? As such, this basic decision will compromise the rest of the tree's design.
https://imgur.com/IVhiAnn
https://imgur.com/6w3yJYR (excuse the January 1st, it's a debugging date, it would be approximately June or so in a game)
The main decision you will be able to take is who will succeed Hogg. You are able to either select the Marquess of Salisbury (James Gascoyne-Cecil), a conservative or the Viscount Simon, (John Simon), a man who considers himself more of a reformer. This decision will be a crucial part of future Britain gameplay as you decide the future of parliament.
https://imgur.com/O8p1vxZ
https://imgur.com/Fg3aHEw
THE REFORMERS:
https://imgur.com/fBQMYy2
HENRY:
https://imgur.com/tb8GsM6
Henry, the Duke of Gloucester, is the son of the late King George V and the brother of Edward. While he is no revolutionary nor a republican, he is by far the mainstream candidate most Britons would prefer. Kind-hearted, polite, and generally cast in a mold akin to his father, Henry will be the safest choice as well. He is eager to liberalize the franchise, restore some of parliament's integrity, and can shore up the Coalition as he implements some of his minor reforms to labor, finance, and colonial affairs.
https://imgur.com/6YetX9Y
He strives to stake his claim as the most legitimate and as the best option available, and portrays himself as a stable, moral, and credible choice to deliver the solutions to Britain's problems.
https://imgur.com/k0GN3tB
Henry also seeks to carry on the legacy of his deceased father, in an effort to, of course, drive up the sympathy of the British public to his potential reign.
https://imgur.com/9yNKmuH
Of course, Henry also meets with working-class individuals and other members of general society to break the mold of court affairs, as he wishes to be a true man of the people, like Richard Lionheart of yore.
https://imgur.com/NAcHONf
Nonetheless, the public are not his sole ally. Most of his family support him as well, much to the disgust of Albert Victor, who spends his time "campaigning" for the crown while Parliament debates deeming Henry an usurper and a fraud. If Albert Victor is successful in these rumors, Henry may be discounted or even arrested as Parliament eliminates him from the running.
GEORGE:
https://imgur.com/e5JYt8z
The Duke of Kent, George is the younger brother of the aforementioned Henry. Deeply more committed to reform, he is also substantially more uncertain as a contender. Suspected to be prone to scandals himself, George is viewed with caution as a youthful dreamer rather than as a serious contender.
https://imgur.com/7JIvslr
However, he shocks many in the public when he takes bold steps to start where his brother left off. Quickly establishing himself as a contender, he gladly takes interviews and advocates for sweeping liberalizing reforms on a deeper scale than his elder sibling.
https://imgur.com/OFBKAPy
His connections with the roaring high society of the time also serve him well, as the children of Britain's elite gladly drink with him and discuss politics. It is quite clear that some MPs are swayed to his side for this very reason.
MARY:
https://imgur.com/Uj7NMkk
However, the Duke of Kent is not the only contender emerging from Henry's ashes. Princess Mary, the Countess of Harewood and Lady Mountbatten, she and her husband have made a name for themselves politically before the beginning of the crisis.
https://imgur.com/CIovI13
This husband of hers specifically, Lord Mountbatten, has made a name for himself along with Mary within Fabian circles in British political clubs. The Fabian society serves as Britain's foremost socialist organization, which simultaneously tacitly supports the Empire and the monarchy. However, there is no doubt that Mary is the most radical option.
https://imgur.com/oRgbZFr
She will advocate for social democratic policies much like those of Labour, which many suspect to be the fault of her husband. However, it is becoming increasingly clear that she has her own agenda...
Overall, George and Mary will work together for their shared desire for reform, but ultimately, one of them will decide amongst themselves who will take the reformist caucus.
https://imgur.com/avK4upm
https://imgur.com/Ndl9GJI
THE CONSERVATIVES:
https://imgur.com/vo787Kg
ALBERT VICTOR:
https://imgur.com/r5uydS8
The estranged eldest son of Edward VII, Albert Victor was forced into an informal exile and abdication due to a myriad of factors ranging from his marriage to allegations of homosexuality. A sickly man from the years of media pressure, he is present at game start as India's Viceroy, finally being able to make a name for himself besides that of tabloid headlines.
https://imgur.com/NZRYeWb
His return to home shocks many, as it was the first time he had returned to the homeland since his departure decades ago. This repatriation would reinforce the scholars' claim that Britain may very well have manipulated Albert Victor out of his rightful throne. A theme which would define his upcoming campaign of sorts.
https://imgur.com/wXXdDMQ
https://imgur.com/Okp8KMw
https://imgur.com/t5Ka0q3
There is no doubt Albert Victor is proper with conservatives. Edward and Albert had fought valiantly, but the other siblings had been idle within the homefront, especially after the death of Albert. Meanwhile, Albert Victor had crushed dissent within his Indian realms and established an effective colonial bureaucracy ultimately subservient to him. Careful to carry the support of industrialists, aristocrats, and other elements of society who preferred the status quo and the Rhodes system, Albert Victor made quick work forming alliances and endorsements. However, it would be incorrect to say that Albert Victor fails to attract the middle and lower classes, when he very much so can draw on nationalistic sentiment to carry his message of normalcy.
https://imgur.com/q4OWCRg
His record is also something he displays proudly, with medals adorning his uniform. His wife serves as a diplomatic marriage in addition to his affection, and his previous leadership serves to reinforce his message of vast credentials to rule.
However, Albert Victor is a shady individual. With his domains of several hundred million, it is very possible for him to have obtained the funds or equipment necessary to carry out the assassination of his brother. Only the investigation will tell...until it decides against him!
NIKOLAUS:
https://imgur.com/5nWTzdR
Nikolaus, Prince of Oldenburg, serves as the Dutch ruler at gamestart. Fervently imperialistic and admiring of nationalistic movements, Nikolaus' argument lies upon a crux of militarism and their support to rule.
https://imgur.com/1ektf5B
https://imgur.com/dBRlgfM
His message resounds loudly with the military itself, entangled in the seemingly eternal Mexican "swamp". With a campaign to expand enlisted outreach with interviews and inspections, Nikolaus also can rely on the remnants of Albert Victor's conservative bloc and the endorsement of Douglas Haig, the famed General who had presided over the invasion of Anatolia and its subsequent occupation. With this small but loyal base, it is very possible for Nikolaus to cause an upset.
https://imgur.com/7bdC7v4
Nikolaus is not alone in his bid to reclaim Britain's conservative legacy, strangely enough.
DUARTE:
https://imgur.com/6mnvNJG
Duarte Nuno de Braganza, a relative of King Luis currently reigning in the Lusitanian nation has staked a claim to the throne albeit a very loose one. By far the most outrageous of the candidacies, he seeks to uplift the United Kingdom's Catholics and establish a true monarchy. Many suspect him to be a Portuguese plant in order to preserve the 1373 alliance in the face of adversity, others suspect him to be outright delusional.
https://imgur.com/WrR3H53
Duarte proposes a simple but bizarre platform for the nation: mending the status of Catholics. This serves to directly oppose Nikolaus' Protestant convictions ironically, even though both are the most conservative choices. His detractors call him a crypto-Jacobite, but many see him as a man with a legitimate interest in healing the wounds present in Ireland.
https://imgur.com/qrVv0fa
In addition to his almost militant Catholicism, Duarte draws upon his leadership in Portugal to reassure Britain that he has more policies. With growing apathy in society as the crisis drags on, Duarte begins to establish himself as a very credible choice to juke the establishment's grip on society, perhaps he may even break the Rhodes system!
CONCLUSION:
While focus trees are lacking, and the investigation a seeming side note, we hope this premise will effectively set up how RB will play out. As such, we will generously answer questions on our subreddit and in our Discord's ask-a-dev channel. Ironically, Britain was one of the last countries to receive a "game plan" due to how unique its premise is. I think this serves to effectively lay down a foundation for future progress reports and hint at our future content, which we hope to deliver weekly once more, as most of our energy has gone into writing the events.
Hopefully you enjoyed it all, and I would like to thank all the Team Members who helped deliver!
Spuddatomic (co-founder and maker of the original map!), Darth Riki 01, Woodrow Wilson, mango, foxide, Lazergaz, uncountablyInfinite, bread, Conrad von Hotzendorf, Thunderslav, zamnil, Paradox, Boss, cikka, Lazergaz, Jaxx_On, Schizophrenia, Alzheimer, Silvanus, Jungle Rat, Sino, mop, PunkRadio, Turtle, Palks (the main source of inspiration for this premise!), Target, Wendell08, Ghesor, Calph, Dogs231, PontusMeister, 422, I Like Cake Too, Ame, HansTheColorizer, Vltava, jentren, thanosaekk, Theia, Azenia, Maximo, Danzig, JKrouss, PRW-8/32, GottNichtMitUns, YryesThePigeon, Jaspy, timbothy, TheOverseer, Shift, Victory143, semi, octorok, and lastly JeSuis!
Next teaser will be hopefully early next week. We are committed to showing in-game, functional, content with gameplay elements! A release plan will be announced in the near-future as well, keep your eyes and ears focused! We are a team that focuses on quality and team morale over workload, hence our fluctuations in regards to teasing. We apologize nonetheless for the long wait and silence leading up to it.
We will also begin to use the subreddit again, be sure to subscribe! RuleBritMod!
Here is our Discord: https://discord.com/invite/jVptXCS
Last but not least, I would like to shout out several other mods we work happily with.
The New Order: https://discord.gg/CXgJ7K7 (many of our members hail from here originally!)
Godspeed: https://discord.gg/hCMM5tY (One of our members is lead dev there!)
The Next Moves Forward, a mod based off a British collapse in the premiership of Margaret Thatcher. https://discord.gg/dbVVr2k (One of our members is lead dev there!)
Torch of the Protectorate, another mod I work on, and kind of an opposite to RB! (One of our members is the lead dev there!)
https://discord.gg/2PNwgNA
FoR is a project JeSuis works on, I think he'd appreciate the support
https://discord.gg/zjhqWzQ
Thanks for reading this far! Be sure to ask questions and follow rules while doing so.
Tiberium.
(DISCLAIMER: WE ARE NOT AT ALL RESPONSIBLE FOR WHAT HAPPENS IN THE OTHER SERVERS) (DISCLAIMER II: WE APOLOGIZE FOR ANY TYPOS OR GRAMMATICAL ERRORS, THEY MOST LIKELY HAVE BEEN RECTIFIED BY THE TIME THIS IS PUBLISHED)
(DISCLAIMER III: WE DON'T HAVE A LEGAL TEAM THIS IS JUST MY RAMBLING AGAIN)
submitted by RefinedTiberium to RuleBritMod [link] [comments]

How To End The Cryptocurrency Exchange "Wild West" Without Crippling Innovation


In case you haven't noticed the consultation paper, staff notice, and report on Quadriga, regulators are now clamping down on Canadian cryptocurrency exchanges. The OSC and other regulatory bodies are still interested in industry feedback. They have not put forward any official regulation yet. Below are some ideas/insights and a proposed framework.



Many of you have limited time to read the full proposal, so here are the highlights:

Offline Multi-Signature

Effective standards to prevent both internal and external theft. Exchange operators are trained and certified, and have a legal responsibility to users.

Regular Transparent Audits

Provides visibility to Canadians that their funds are fully backed on the exchange, while protecting privacy and sensitive platform information.

Insurance Requirements

Establishment of basic insurance standards/strategy, to expand over time. Removing risk to exchange users of any hot wallet theft.


Background and Justifications


Cold Storage Custody/Management
After reviewing close to 100 cases, all thefts tend to break down into more or less the same set of problems:
• Funds stored online or in a smart contract,
• Access controlled by one person or one system,
• 51% attacks (rare),
• Funds sent to the wrong address (also rare), or
• Some combination of the above.
For the first two cases, practical solutions exist and are widely implemented on exchanges already. Offline multi-signature solutions are already industry standard. No cases studied found an external theft or exit scam involving an offline multi-signature wallet implementation. Security can be further improved through minimum numbers of signatories, background checks, providing autonomy and legal protections to each signatory, establishing best practices, and a training/certification program.
The last two transaction risks occur more rarely, and have never resulted in a loss affecting the actual users of the exchange. In all cases to date where operators made the mistake, they've been fully covered by the exchange platforms.
• 51% attacks generally only occur on blockchains with less security. The most prominent cases have been Bitcoin Gold and Ethereum Classic. The simple solution is to enforce deposit limits and block delays such that a 51% attack is not cost-effective.
• The risk of transactions to incorrect addresses can be eliminated by a simple test transaction policy on large transactions. By sending a small amount of funds prior to any large withdrawals/transfers as a standard practice, the accuracy of the wallet address can be validated.
The proposal covers all loss cases and goes beyond, while avoiding significant additional costs, risks, and limitations which may be associated with other frameworks like SOC II.

On The Subject of Third Party Custodians
Many Canadian platforms are currently experimenting with third party custody. From the standpoint of the exchange operator, they can liberate themselves from some responsibility of custody, passing that off to someone else. For regulators, it puts crypto in similar categorization to oil, gold, and other commodities, with some common standards. Platform users would likely feel greater confidence if the custodian was a brand they recognized. If the custodian was knowledgeable and had a decent team that employed multi-sig, they could keep assets safe from internal theft. With the right protections in place, this could be a great solution for many exchanges, particularly those that lack the relevant experience or human resources for their own custody systems.
However, this system is vulnerable to anyone able to impersonate the exchange operators. You may have a situation where different employees who don't know each other that well are interacting between different companies (both the custodian and all their customers which presumably isn't just one exchange). A case study of what can go wrong in this type of environment might be Bitpay, where the CEO was tricked out of 5000 bitcoins over 3 separate payments by a series of emails sent legitimately from a breached computer of another company CEO. It's also still vulnerable to the platform being compromised, as in the really large $70M Bitfinex hack, where the third party Bitgo held one key in a multi-sig wallet. The hacker simply authorized the withdrawal using the same credentials as Bitfinex (requesting Bitgo to sign multiple withdrawal transactions). This succeeded even with the use of multi-sig and two heavily security-focused companies, due to the lack of human oversight (basically, hot wallet). Of course, you can learn from these cases and improve the security, but so can hackers improve their deception and at the end of the day, both of these would have been stopped by the much simpler solution of a qualified team who knew each other and employed multi-sig with properly protected keys. It's pretty hard to beat a human being who knows the business and the typical customer behaviour (or even knows their customers personally) at spotting fraud, and the proposed multi-sig means any hacker has to get through the scrutiny of 3 (or more) separate people, all of whom would have proper training including historical case studies.
There are strong arguments both for and against using use of third party custodians. The proposal sets mandatory minimum custody standards would apply regardless if the cold wallet signatories are exchange operators, independent custodians, or a mix of both.

On The Subject Of Insurance
ShakePay has taken the first steps into this new realm (congratulations). There is no question that crypto users could be better protected by the right insurance policies, and it certainly feels better to transact with insured platforms. The steps required to obtain insurance generally place attention in valuable security areas, and in this case included a review from CipherTrace. One of the key solutions in traditional finance comes from insurance from entities such as the CDIC.
However, historically, there wasn't found any actual insurance payout to any cryptocurrency exchange, and there are notable cases where insurance has not paid. With Bitpay, for example, the insurance agent refused because the issue happened to the third party CEO's computer instead of anything to do with Bitpay itself. With the Youbit exchange in South Korea, their insurance claim was denied, and the exchange ultimately ended up instead going bankrupt with all user's funds lost. To quote Matt Johnson in the original Lloyd's article: “You can create an insurance policy that protects no one – you know there are so many caveats to the policy that it’s not super protective.”
ShakePay's insurance was only reported to cover their cold storage, and “physical theft of the media where the private keys are held”. Physical theft has never, in the history of cryptocurrency exchange cases reviewed, been reported as the cause of loss. From the limited information of the article, ShakePay made it clear their funds are in the hands of a single US custodian, and at least part of their security strategy is to "decline[] to confirm the custodian’s name on the record". While this prevents scrutiny of the custodian, it's pretty silly to speculate that a reasonably competent hacking group couldn't determine who the custodian is. A far more common infiltration strategy historically would be social engineering, which has succeeded repeatedly. A hacker could trick their way into ShakePay's systems and request a fraudulent withdrawal, impersonate ShakePay and request the custodian to move funds, or socially engineer their way into the custodian to initiate the withdrawal of multiple accounts (a payout much larger than ShakePay) exploiting the standard procedures (for example, fraudulently initiating or override the wallet addresses of a real transfer). In each case, nothing was physically stolen and the loss is therefore not covered by insurance.
In order for any insurance to be effective, clear policies have to be established about what needs to be covered. Anything short of that gives Canadians false confidence that they are protected when they aren't in any meaningful way. At this time, the third party insurance market does not appear to provide adequate options or coverage, and effort is necessary to standardize custody standards, which is a likely first step in ultimately setting up an insurance framework.
A better solution compared to third party insurance providers might be for Canadian exchange operators to create their own collective insurance fund, or a specific federal organization similar to the CDIC. Such an organization would have a greater interest or obligation in paying out actual cases, and that would be it's purpose rather than maximizing it's own profit. This would be similar to the SAFU which Binance has launched, except it would cover multiple exchanges. There is little question whether the SAFU would pay out given a breach of Binance, and a similar argument could be made for a insurance fund managed by a collective of exchange operators or a government organization. While a third party insurance provider has the strong market incentive to provide the absolute minimum coverage and no market incentive to payout, an entity managed by exchange operators would have incentive to protect the reputation of exchange operators/the industry, and the government should have the interest of protecting Canadians.

On The Subject of Fractional Reserve
There is a long history of fractional reserve failures, from the first banks in ancient times, through the great depression (where hundreds of fractional reserve banks failed), right through to the 2008 banking collapse referenced in the first bitcoin block. The fractional reserve system allows banks to multiply the money supply far beyond the actual cash (or other assets) in existence, backed only by a system of debt obligations of others. Safely supporting a fractional reserve system is a topic of far greater complexity than can be addressed by a simple policy, and when it comes to cryptocurrency, there is presently no entity reasonably able to bail anyone out in the event of failure. Therefore, this framework is addressed around entities that aim to maintain 100% backing of funds.
There may be some firms that desire but have failed to maintain 100% backing. In this case, there are multiple solutions, including outside investment, merging with other exchanges, or enforcing a gradual restoration plan. All of these solutions are typically far better than shutting down the exchange, and there are multiple cases where they've been used successfully in the past.

Proof of Reserves/Transparency/Accountability
Canadians need to have visibility into the backing on an ongoing basis.
The best solution for crypto-assets is a Proof of Reserve. Such ideas go back all the way to 2013, before even Mt. Gox. However, no Canadian exchange has yet implemented such a system, and only a few international exchanges (CoinFloor in the UK being an example) have. Many firms like Kraken, BitBuy, and now ShakePay use the Proof of Reserve term to refer to lesser proofs which do not actually cryptographically prove the full backing of all user assets on the blockchain. In order for a Proof of Reserve to be effective, it must actually be a complete proof, and it needs to be understood by the public that is expected to use it. Many firms have expressed reservations about the level of transparency required in a complete Proof of Reserve (for example Kraken here). While a complete Proof of Reserves should be encouraged, and there are some solutions in the works (ie TxQuick), this is unlikely to be suitable universally for all exchange operators and users.
Given the limitations, and that firms also manage fiat assets, a more traditional audit process makes more sense. Some Canadian exchanges (CoinSquare, CoinBerry) have already subjected themselves to annual audits. However, these results are not presently shared publicly, and there is no guarantee over the process including all user assets or the integrity and independence of the auditor. The auditor has been typically not known, and in some cases, the identity of the auditor is protected by a NDA. Only in one case (BitBuy) was an actual report generated and publicly shared. There has been no attempt made to validate that user accounts provided during these audits have been complete or accurate. A fraudulent fractional exchange, or one which had suffered a breach they were unwilling to publicly accept (see CoinBene), could easily maintain a second set of books for auditors or simply exclude key accounts to pass an individual audit.
The proposed solution would see a reporting standard which includes at a minimum - percentage of backing for each asset relative to account balances and the nature of how those assets are stored, with ownership proven by the auditor. The auditor would also publicly provide a "hash list", which they independently generate from the accounts provided by the exchange. Every exchange user can then check their information against this public "hash list". A hash is a one-way form of encryption, which fully protects the private information, yet allows anyone who knows that information already to validate that it was included. Less experienced users can take advantage of public tools to calculate the hash from their information (provided by the exchange), and thus have certainty that the auditor received their full balance information. Easy instructions can be provided.
Auditors should be impartial, their identities and process public, and they should be rotated so that the same auditor is never used twice in a row. Balancing the cost of auditing against the needs for regular updates, a 6 month cycle likely makes the most sense.

Hot Wallet Management
The best solution for hot wallets is not to use them. CoinBerry reportedly uses multi-sig on all withdrawals, and Bitmex is an international example known for their structure devoid of hot wallets.
However, many platforms and customers desire fast withdrawal processes, and human validation has a cost of time and delay in this process.
A model of self-insurance or separate funds for hot wallets may be used in these cases. Under this model, a platform still has 100% of their client balance in cold storage and holds additional funds in hot wallets for quick withdrawal. Thus, the risk of those hot wallets is 100% on exchange operators and not affecting the exchange users. Since most platforms typically only have 1%-5% in hot wallets at any given time, it shouldn't be unreasonable to build/maintain these additional reserves over time using exchange fees or additional investment. Larger withdrawals would still be handled at regular intervals from the cold storage.
Hot wallet risks have historically posed a large risk and there is no established standard to guarantee secure hot wallets. When the government of South Korea dispatched security inspections to multiple exchanges, the results were still that 3 of them got hacked after the inspections. If standards develop such that an organization in the market is willing to insure the hot wallets, this could provide an acceptable alternative. Another option may be for multiple exchange operators to pool funds aside for a hot wallet insurance fund. Comprehensive coverage standards must be established and maintained for all hot wallet balances to make sure Canadians are adequately protected.

Current Draft Proposal

(1) Proper multi-signature cold wallet storage.
(a) Each private key is the personal and legal responsibility of one person - the “signatory”. Signatories have special rights and responsibilities to protect user assets. Signatories are trained and certified through a course covering (1) past hacking and fraud cases, (2) proper and secure key generation, and (3) proper safekeeping of private keys. All private keys must be generated and stored 100% offline by the signatory. If even one private keys is ever breached or suspected to be breached, the wallet must be regenerated and all funds relocated to a new wallet.
(b) All signatories must be separate background-checked individuals free of past criminal conviction. Canadians should have a right to know who holds their funds. All signing of transactions must take place with all signatories on Canadian soil or on the soil of a country with a solid legal system which agrees to uphold and support these rules (from an established white-list of countries which expands over time).
(c) 3-5 independent signatures are required for any withdrawal. There must be 1-3 spare signatories, and a maximum of 7 total signatories. The following are all valid combinations: 3of4, 3of5, 3of6, 4of5, 4of6, 4of7, 5of6, or 5of7.
(d) A security audit should be conducted to validate the cold wallet is set up correctly and provide any additional pertinent information. The primary purpose is to ensure that all signatories are acting independently and using best practices for private key storage. A report summarizing all steps taken and who did the audit will be made public. Canadians must be able to validate the right measures are in place to protect their funds.
(e) There is a simple approval process if signatories wish to visit any country outside Canada, with a potential whitelist of exempt countries. At most 2 signatories can be outside of aligned jurisdiction at any given time. All exchanges would be required to keep a compliant cold wallet for Canadian funds and have a Canadian office if they wish to serve Canadian customers.
(2) Regular and transparent solvency audits.
(a) An audit must be conducted at founding, after 3 months of operation, and at least once every 6 months to compare customer balances against all stored cryptocurrency and fiat balances. The auditor must be known, independent, and never the same twice in a row.
(b) An audit report will be published featuring the steps conducted in a readable format. This should be made available to all Canadians on the exchange website and on a government website. The report must include what percentage of each customer asset is backed on the exchange, and how those funds are stored.
(c) The auditor will independently produce a hash of each customer's identifying information and balance as they perform the audit. This will be made publicly available on the exchange and government website, along with simplified instructions that each customer can use to verify that their balance was included in the audit process.
(d) The audit needs to include a proof of ownership for any cryptocurrency wallets included. A satoshi test (spending a small amount) or partially signed transaction both qualify.
(e) Any platform without 100% reserves should be assessed on a regular basis by a government or industry watchdog. This entity should work to prevent any further drop, support any private investor to come in, or facilitate a merger so that 100% backing can be obtained as soon as possible.
(3) Protections for hot wallets and transactions.
(a) A standardized list of approved coins and procedures will be established to constitute valid cold storage wallets. Where a multi-sig process is not natively available, efforts will be undertaken to establish a suitable and stable smart contract standard. This list will be expanded and improved over time. Coins and procedures not on the list are considered hot wallets.
(b) Hot wallets can be backed by additional funds in cold storage or an acceptable third-party insurance provider with a comprehensive coverage policy.
(c) Exchanges are required to cover the full balance of all user funds as denominated in the same currency, or double the balance as denominated in bitcoin or CAD using an established trading rate. If the balance is ever insufficient due to market movements, the firm must rectify this within 24 hours by moving assets to cold storage or increasing insurance coverage.
(d) Any large transactions (above a set threshold) from cold storage to any new wallet addresses (not previously transacted with) must be tested with a smaller transaction first. Deposits of cryptocurrency must be limited to prevent economic 51% attacks. Any issues are to be covered by the exchange.
(e) Exchange platforms must provide suitable authentication for users, including making available approved forms of two-factor authentication. SMS-based authentication is not to be supported. Withdrawals must be blocked for 48 hours in the event of any account password change. Disputes on the negligence of exchanges should be governed by case law.

Steps Forward

Continued review of existing OSC feedback is still underway. More feedback and opinions on the framework and ideas as presented here are extremely valuable. The above is a draft and not finalized.
The process of further developing and bringing a suitable framework to protect Canadians will require the support of exchange operators, legal experts, and many others in the community. The costs of not doing such are tremendous. A large and convoluted framework, one based on flawed ideas or implementation, or one which fails to properly safeguard Canadians is not just extremely expensive and risky for all Canadians, severely limiting to the credibility and reputation of the industry, but an existential risk to many exchanges.
The responsibility falls to all of us to provide our insight and make our opinions heard on this critical matter. Please take the time to give your thoughts.
submitted by azoundria2 to QuadrigaInitiative [link] [comments]

PSA: Predatory exchange checklist

Everyone please, I would seriously advise you to stay away from exchanges that have predatory practices that take advantage of new users and first time depositors, because they have no other way to make money. An exchange that is functioning properly makes money on either their trading fees or their spread. I am writing this to all the new people that are looking for bitcoin exchange/broker options in Canada.
There are certain things you should look at and if the exchange in question has any or a combination of the following I would suggest you stay away, as the practices of these exchanges are the reason they are running on fumes and I would not like to see anyone on here get caught in another exit scam.
  1. Deposit or Withdrawal fees on fiat or crypto (unrealistic amounts). There are plenty of other exchanges with no deposit or withdrawal fees and if the exchange is successful, this is not needed at all and is a failed business model in Canada.
  2. Minimum withdrawal or deposit amounts on fiat or crypto (within reason). You should be able to deposit and withdraw as much as you'd like without restriction. This is a tactic that will most likely cause you to have to bring your balance up to a certain amount before you can withdraw. I would not consider this to be the case if the amount is $5 or less, as it does cost money to send bank wire and e-transfer.
  3. Holds on funds and bank like activity (not including fraud concerns). No exchange should have to have a hold on any funds for any reason. It is your money and they are not a bank.
Right now in Canada, there are two highly rated exchanges that have the best history with almost no complaints on reddit (or any that seem to be of valid concern). They are Shakepay and Newton, which function much the same but their own unique properties and services. I am bi-partisan on what exchange you choose because they both have solid foundation, very good history and customer reviews and highest volume, but stay away from anything but them at this point is my advice to any newcomers reading this.
Edit: Although Kraken is technically based in the US, they are a very reputable exchange and service Canadian clientele, I'm just referencing exchanges based I'm Canada right now.
Edit 2: If an exchange has deposit or withdrawal fees, they should have a good justification for it, such as VERY low trading fees or margin account, cover mining fees or anything that you can logically see that would absorb this cost.
submitted by west_coast_ghost to BitcoinCA [link] [comments]

Ethereum needs to get serious about the decentralized NFT/Gaming scene, or it won't win

As the lead developer for Flowerpatch.app, it's clear that we are standing at a crucial time in the development of NFT based gaming. There are two major directions that the industry can go:
(1) Big legacy brands like Nike and Ubisoft come in and make "NFT"s that are mostly tradeable and mostly usable. But the key thing here is that big brand like that do not care about decentralization, fairness, or whatever. They care about owning and protecting their brand, self promotion, which is what they've always done. They don't care if it's ERC721 on Ethereum — probably better if it's not, actually, since they want instant transactions and a backdoor that lets them ultimately control the tokens (i.e. their "brand"). As a result, several other competing blockchains have come to be, with the use of enabling big-brand-backed NFT-like gaming. Flow, Near, Tron, HyperLedger, Polkadot — all want an active gaming scene, and they are ready to make compromises in decentralization to make it happen. They are ready to pay teams to build on their network — most of the above blockchains have come and talked to us already. That's what Ethereum is up against — well funded legacy brands, armed with well funded new-age blockchains. They could build an item trading product that's 99% good enough feature-wise for gamers, while throwing fairness and decentralization into the trash
(2) The gamers unite and demand that game items be tradeable, fair, decentralized, have true ownership. Big brands realize that there's tremendous value to building on a decentralized, open, unified ecosystem. Ethereum becomes the hub of NFTs, in the same way that Ethereum has already won DeFi and Tokens. Ethereum games would need to integrate more deeply into each other, with DeFi, and the larger Ethereum ecosystem to create a "network effect" that makes Ethereum the clear winner in the decentralized item ownership space. A consistent Layer2 strategy would need to emerge, to make actions like getting an item, transferring it to an NFT Exchange (like OpenSea) — instant and transparent
I mean, yeah, it's gonna be messy. Both strategies will exist for some time, until the market settles onto what it really wants. But I'm just here to tell you, that if the Ethereum community / leaders continue to largely ignore NFTs, option #1 will probably win. Other blockchains are out there paying teams, and building tech that appeals to legacy brands. What do I mean by "continue to largely ignore"? Well, how about this recent tweet (or many others by vbuterin):
Luckily, there's many categories of ethereum applications (and other chains) that go beyond finance. Decentralized censorship-resistant publishing and communication, decentralized communities / governance / DAOs, DAOs for content curation, etc etc. All important work.
I love Vitalik, and feel like I share a lot of history with him, being a Russian/Canadian myself. But when he talks about NFTs, he talks about social impact, not gaming, like this clip: https://twitter.com/MintableApp/status/1106912717598679040
A lot of Ethereum's devs and leadership talk like DeFi, DAOs, Publishing, L2 Scaling, Finance are the only things that matter. Guys, GAMING made computers what they are today. We only have graphics cards as good as we do because gamers demanded it. We have this multi-billion dollar gaming industry that's being run by the biggest tech companies in the world (Microsoft, Sony). Gaming could be the very thing that takes crypto mainstream, like CryptoKitties almost did (until the scalability stopped their epic run). Why ignore it?
So this is my call to action:
All the best guys, and a bright future to this excellent network ❤️
submitted by hugelung to ethereum [link] [comments]

Theorycraft: Canadian Tire money as an ETH token

If Canadian Tire phased out the current system and introduced CTM they would by default create a CAD stablecoin. Large user base and backed by real goods and services. Sure CTM could speculatively trade above and below the peg on exchanges, but at Canadian Tire it's always 1:1 so there would be faith in the peg. All they would have to do is integrate wallet functionality into their current app.
I know any company could do this with their loyalty points system, but I think CT has a unique cultural advantage here, and before they went digital there was a small economy around Canadian Tire money.
Anyways I think this would be awesome.
Do you think this would be good or bad for CT, its customers, Canadians, crypto in general etc.
submitted by RogerWilco357 to BitcoinCA [link] [comments]

[FULL ANALYSIS] Bitcoin exchanges and payment processors in Canada are now regulated as Money Service Businesses

Hello Bitcoiners!
Many of you saw my tweet yesterday about the Bitcoin regulations in Canada. As usual, some journalists decided to write articles about my tweets without asking me for the full context :P Which means there has been a lot of misunderstanding. Particuarly, these regulations mean that we can lower the KYC requirements and no longer require ID documents or bank account connections! We can also increase the daily transaction limit from $3,000 per day to $10,000 per day for unverified accounts. The main difference is that we now have a $1,000 per-transaction limit (instead of per day) and we must report suspicious transactions. It's important to read about our reporting requirements, as it is the main difference since pretty much every exchange was doing KYC anyway.
Hopefully you appreciate the transparency, and I'm available for questions!
Cheers,
Francis
*********************************************
Text below is copied from: https://medium.com/bull-bitcoin/bitcoin-exchanges-and-payment-processors-in-canada-are-now-regulated-as-money-service-businesses-1ca820575511

Bitcoin is money, regulated like money

Notice to Canadian Bitcoin users

If you are the user of a Canadian Bitcoin company, be assured that:
You may notice that the exchange service you are using has change its transactions limits or is now requiring more information from you.
You can stop reading this email now without any consequence! Otherwise, keep regarding if you are interested in my unique insights into this important topic!

Background on regulation

Today marks an important chapter for Bitcoin’s history in Canada: Bitcoin is officially regulated as money (virtual currency) under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act of Canada (PCMLTFA), under the jurisdiction of the Financial Transaction and Reports Analysis Centre of Canada (FINTRAC).
This is the culmination of 5 years of effort by numerous Bitcoin Canadian advocates collaborating with the Ministry of Finance, Fintrac and other Canadian government agencies.
It is important to note that there is no new Bitcoin law in Canada. In June of 2014, the Governor General of Canada (representing Her Majesty Queen Elizabeth II) gave royal asset to Bill C-31, voted by parliament under Stephen Harper’s Conservative government, which included amendments to the PCMLTFA to included Bitcoin companies (named “dealers in virtual currency”) as a category of Money Service Businesses.
Thereafter, FINTRAC engaged in the process of defining what exactly is meant by “dealing in virtual currency” and what particular rules would apply to the businesses in this category. Much of our work was centred around excluding things like non-custodial wallets, nodes, mining and other activities that were not related exchange or payments processing.
To give an idea, the other categories that apply to traditional fiat currency businesses are:
When we say that Bitcoin is now regulated, what we mean is that these questions have been settled, officially published, and that they are now legally binding.
Businesses that are deemed to be “dealing in virtual currency” must register with FINTRAC as a money service business, just like they would if they were doing traditional currency exchange or payment processing.
There is no “license” required, which means that you do not need the government’s approval before you can operate a Bitcoin exchange business. However, when you operate a Money Service Business, you must register and comply with the laws… otherwise you risk jail time and large fines.

What activities are regulated as Money Service Business activity?

A virtual currency exchange transaction is defined as: “an exchange, at the request of another person or entity, of virtual currency for funds, funds for virtual currency or one virtual currency for another.” This includes, but is not limited to:

Notice to foreign Bitcoin companies with clients in Canada

Regardless of whether or not your business is based in Canada, you must register with FINTRAC as a Foreign Money Service Business, if:

How this affects BullBitcoin.com and Bylls.com

The regulation of Bitcoin exchange and payment services has always been inevitable. If we want Bitcoin to be considered as money, we must accept that it will be regulated like other monies. Our stance on the regulation issue has always been that Bitcoin exchanges and payment processors should be regulated like fiat currency exchanges and payment processors, no more, no less. This is the outcome we obtained.
To comply with these regulations, we are implementing a few changes to our Know-Your-Customer requirement and transaction limits which may paradoxically make your experience using Bull Bitcoin and Bylls even more private and convenient!

The bad news

The good news

To understand these regulations, we highly recommend reading this summary by our good friends and partners at Outlier Compliance.

Summary of our obligations

Our responsibilities:
The information required to perform a compliant know-your-customer validation:
Record keeping obligations:

Suspicious transaction reporting

Satoshi Portal is required to make suspicious transactions report to FINTRAC after we have detected a fact that amounts to reasonable grounds to suspect that one of your transactions is related to the commission or attempted commission of a money laundering offence or a terrorist activity financing offence.
Failure by Satoshi Portal Inc. to report a suspicious transaction could lead to up to five years imprisonment, a fine of up to $2,000,000, or both, for its executives.
We are not allowed to share with anyone other than FINTRAC, including our clients, the contents of a suspicious transaction report as well as the fact that a suspicious transaction report has been filed.

What is suspicious activity?

Note for bitcoinca: this section applies ONLY to Bull Bitcoin. Most exchanges have much stricter interpretation of what is suspicious. You should operate under the assumption that using Coinjoin or TOR will get you flagged at some other exchanges even though it's okay for Bull Bitcoin. That is simply because we have a more sophisticated understanding of privacy best practices.
Identifying suspicious behavior is heavily dependent on the context of each transaction. We understand and take into account that for many of our customers, privacy and libertarian beliefs are of the utmost importance, and that some users may not know that the behavior they are engaging in is suspicious. When we are concerned or confused about the behaviors of our users, we endeavour to discuss it with them before jumping to conclusions.
In general, here are a few tips:
Here are some examples of behavior that we do not consider suspicious:
Here are some example indicators of behavior that would lead us to investigate whether or not a transaction is suspicious:

What does this mean for Bitcoin?

It was always standard practice for Bitcoin companies to operate under the assumption they would eventually be regulated and adopt policies and procedures as if they were already regulated. The same practices used for legal KYC were already commonplace to mitigate fraud (chargebacks).
In addition, law enforcement and other government agencies in Canada were already issuing subpoenas and information requests to Bitcoin companies to obtain the information of users that were under investigation.
We suspect that cash-based Bitcoin exchanges, whether Bitcoin ATMs, physical Bitcoin exchanges or Peer-to-Peer trading, will be the most affected since they will no longer be able to operate without KYC and the absence of KYC was the primary feature that allowed them to justify charging such high fees and exchange rate premiums.
One thing is certain, as of today, there is no ambiguity whatsoever that Bitcoin is 100% legal and regulated in Canada!
submitted by FrancisPouliot to BitcoinCA [link] [comments]

[REQUEST] Paying $100 for identity document verification (cannot be a US citizen)

Hello, so I'm asking for something quite a bit more sensitive than just a phone verification here, and because of that I'm going to also provide a full explanation upfront of why I need this and what it's going to be used for so that you can be assured that it's not as big of a risk as it might seem at first. So I created an account with a cryptocurrency casino (the website is crypto.games) that, like many, does not accept players from the US. I'm from the US. I then proceeded to have an extraordinary streak of good luck and win quite a sizeable sum of money - several thousand dollars are currentlly sitting in that account. Now they want me to submit identity verification documents through one of those AI-based services that has you upload a photo of your driver's license or passport, a photo of a recent utility bill, and then take a live picture of your face. The provider of the verification services is Shufti, and from all appearances they seem to be a large, trustworthy enough company to be trusted with this data. You would be dealing directly with them and submitting your documents directly to them - you wouldn't provide any of this to me. Neither I nor the gambling site would ever have access to any of it. The thing is, the account isn't particularly tied to my name, so I would just give you the link to do the verification and you could submit all of your real actual info directly to Shufti (either a driver's license or a passport photo, plus a photo of a recent utility bill or bank statement from the last 3 months), take the live photo of your face to match with the ID, and it would unlock my account. Neither I nor crypto.games would ever have access to your submitted images, and you wouldn't have any access to my actual account either (since this whole process happens to take place through a direct link and not through a logged in account). I don't want to risk trying to submit forged documents to a site that specializes in verifying against such things when this amount of money is at stake, because I imagine the gambling site might be happy enough to take any excuse they can find to not have to pay out to me. But the way it's all set up, it seems to me that I could have someone from here "stand in" my shoes and complete the whole process honestly enough and then I'd get an unlocked account and be able to withdraw my winnings.
The main requirement - and this is key - is that the person doing this cannot be from a rather extensive list of countries that this casino bans. Obviously the US is on that list, but the UK and at least half or more than half of Europe is on the prohibited list too. It's quite the surprisingly long list of excluded countries actually. One particularly notable exception not on the list is Canada, so if you're a Canadian citizen this is a great way for you to earn $100 relatively quickly. The full list of excluded countries can be viewed at https://crypto.games/terms.
I'm paying $100 for this because I understand that although in the end this isn't really making you run any risk of any sort (the account you're verifying for me is a casino account, not a cryptocurrency exchange account, so I don't really see much way that I could misuse the account or take advantage of this at all), it's still asking a lot more of you than a standard phone verification would be, so I have no problem making it worth your time. The site seems to be doing this simply to enforce country and age restrictions. It's definitely not tax related, because at no point do they ask for an SSN or other such tax ID number, and everything tax related is tracked through those sorts of numbers, not tied to a driver's license and passport. If you have any questions let me know. The $100 would be payable just about any way you want - PayPal works fine, BTC or honestly literally any other altcoin of your choosing is fine too - as long as I don't have to sign up for a new account somewhere in order to pay you then that payment method is available for you to request, so just let me know how you'd prefer to handle that part of things and chances are we can do it that way. Thanks for taking the time to read this unfortunately long explanation; hopefully someone will come along who's willing to help me clear this hurdle easily!
submitted by poisehappy to phoneverification [link] [comments]

QUADRIGA 2.0 = COINBERRY?

TL;DR- A "Canadian" crypto exchange has been blowing off customers while their accounts and funds are frozen. Their company isn't trading in Canada, their PR hlooks grandiose but in fact isn't impressive at all, and they are now lying to customers about the reason for the delays.
FULL BREAKDOWN
Coinberry uses "trusted by the Canadian Government" as their main call-to-action and as leverage to gain your business due to their partnership with two municipalities (Richmond Hill and Innisfil township) Townships are NOT part of the Canadian Federal Government, they are municipalities. Municipalities are autonomous. The Canadian federal government and LOCAL government aren't the same thing, that is fraudulent representation.
The mayor of Innisfil has been known to accept gifts from companies trying to get in his favour. Only 5% of CANADIANS- not Innisfil residents, hold cryptocurrency. So, in a town of 36K people, where the majority of the population is 50+ in age, how many are likely to hold bitcoin? Coinberry is the only one benefiting from this; they get to say they've partnered with a township, and if anyone actually wanted to pay property tax in Bitcoin then they need to sign up with Coinberry.
The special information package tells Innisfil residents that "Coinberry has fully supportive, transparent and CDIC insured segregated banking in Canada (page 2/26) A quick Google search will tell you that's false - the CDIC does NOT cover digital currencies as of April 30th, 2020. The document linked stating this was made in 2019. How much did this mayor get paid to lie to his citizens?! I doubt he'd do it for free.
They leverage being PIPEDA compliant, yet all you need is a self assessment tool. It's based on opinion, yet it's their first selling point. It's a garbage selling point that gives false confidence to potential clients.
FINTRAC REGISTRY AND THEIR SHELL COMPANY IN MALTA
They claim to be the only FINTRAC registered company. Nope. A quick search of other crypto exchanges in the FINTRAC lookup proves that claim wrong: https://www10.fintrac-canafe.gc.ca/msb-esm/public/msb-search/search-by-name/
Their privacy policy mentions a parent company. Their parent company is listed on FINTRAC as CB INTERNATIONAL LIMITED, and is based in Malta. For those of you who aren't aware, Malta is well known for being the best place to set up shell companies in order to avoid taxes and protect CEOs from lawsuits after "their" money. This was NOT the case for Kraken, Newton or Shakepay. Only Coinberry feels they need a shell company in another country.
They have 4 companies listed, all Coinberry. All 4 listings show Coinberrys agent activities listed as money transferring, and 2 of them are listed as agents of CB INTERNATIONAL LIMITED (the parent company). This parent company is located in Malta and has listed its activities as foreign exchange and money transferring. This means all of the exchanges happening are actually happening in MALTA not Canada.
They seem to be the only exchange (with Canadian HQ) doing this: Kraken, Newton and Shakepay list their agent activities as foreign exchange dealing, and all are registered IN CANADA. This implies your money is also staying in Canada on their platforms.
Where there is smoke, there is fire.
edit: added a TL;DR, took out unnecessary sentences, cleaned up wording. I was pissed when I wrote this. I just want to see Coinberry suits come clean about the delays. Tell people why you can't get their money back as soon as you said you would, because this only making crypto even scarier for new adopters.
submitted by cosmicariel to Scams [link] [comments]

How to Make $$ of Bitcoin Halving

Last time I threw somethin up here ya ghosted. I ain't gon trip but hope this wake some ya up.
Bitcoin, however you feel about it (I say imperfect but better than fiat) is halving. If you don't have a coinbase or tzero wallet you can still get a bag.
Robinhood Bitcoin Stocks:
RIOT -
Riot blockchain owns the largest Bitcoin mining farm in North America, facilities in Oklahoma and Upstate NY. They acquired the facility in NY last month as well as bought new gear to keep up with competition as Bitcoin miner rewards half. They are well positioned moving forward to be one of the farms that continue producing Bitcoin.
MOGO -
Canadian financial services firm that allows customers to buy Bitcoin through their app. They have a solid customer base they help with financial wellbeing through tracking debt/spending.
OSTK -
No longer a pennystock but I know some of ya can up ya g. Before CEO Pat Byrnes flamed out he funneled his companies resources into bitcoin/blockchain technology. Tzero is owned by overstock and they are in the process of being approved to not only exchange crypto but regular stocks as well.
OTC stocks (ToS got em)
Grayscale Investments
GBTC, GDLC etc -
Heavy with instutional backing. It's a Bitcoin trust, they own a ethereum trust if that's your thing and then digital cap fund.
Still iffy? Look up Paul Tudor Jones since billionaires are smarter than the rest of the population combined.
I would post sources but ya Google/Yahoo Finance/Reddit/Pocket work the same.
Disclaimer: I am long and own multiple positions on these stocks.
Lastly, I expect Bitcoin to dip sometime over the next week due to coin laundering (deadass, not gonna speak further on it rn). Just a heads up
Edit: Riot operates at the largest Bitcoin mine in a partnership with Coinmint.
submitted by DreOJamrock to RobinHoodPennyStocks [link] [comments]

Complete Guide to Get Started in Cryptocurrency - 6 Easy Steps 1/3 Best apps to buy Bitcoin (or Ether) as a Canadian Canada's Crypto Regulations Bitcoin WEEKEND GAP Action Targets. Canadian BITCOIN FUND Listed on Toronto Stock Exchange The Crypto Conversation - building crypto indices for the Toronto Futures Options Swaps Exchange

Kraken is a well established international cryptocurrency exchange, originally based out of San Francisco. Kraken allows users to fund their accounts in Canadian dollars and has several Canadian dollar trading pairs. Kraken operates a small office in Halifax, Nova Scotia, that handles their Canadian operations and support. The National Digital Asset Exchange (NDAX) is a Canadian cryptocurrency exchange where you can buy and sell Bitcoin (BTC) and a handful of other popular digital currencies with Canadian dollars (CAD). Established in mid-2018, it aims to offer fast, simple and secure crypto trading for individuals and institutions. CoinField, based in Vancouver and founded in December 2017, calls itself "the best cryptocurrency exchange platform in Canada with the largest portfolio of currencies available in that country." First, the company stated that it was exploring the idea of using XRP as the base currency on September 22. This also means all transactions exceeding 10,000 Canadian dollars ($7,400) must be reported by Candian crypto firms. Bitcoin regulated like money. The legislative amendment was initially passed in 2014 by the Canadian parliament and after five years, it has finally come into effect. “Today is my last day as an unregulated dealer in virtual Tag: Canadian Based Crypto exchange. QuadrigaCX: What happened, What CoinField does differently. The whole story behind the QuadrigaCX scandal: what happened, why it happened and what CoinField does differently. Estonia, is a fully regulated crypto-to-fiat exchange & virtual currency wallet system by FIU under licence numbers FVR001049

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Complete Guide to Get Started in Cryptocurrency - 6 Easy Steps

Gerald Cotten, the CEO and founder of the Canadian based Quadriga Cryptocurrency Exchange who died last December 2018 in India, may have his body exhumed over the $211m in consumer accounts that ... Kraken is a popular cryptocurrency exchange which allows you to trade for many different cryptocurrencies and supports Fiat (USD/Euro) deposits/withdrawals. ... Shakepay is possibly the best Canadian mobile crypto exchange and peer-to-peer wallet that is only available in Canada. Shakepay also provides a wallet to store your Bitcoin. Truly very easy. Clients of QuadrigaCX, Canada's largest cryptocurrency exchange, are panicking over $250 million in frozen assents after the death of the company's CEO, Gera... I have condensed my experiences down to three short videos on how to buy (video 1), manage (video 2), and exchange (video 3) cryptocurrency from a Canadian perspective. If you haven't bought into ...

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