Global #Canada

Gemini, the cryptocurrency exchange founded by the Winklevoss twins, has announced that it will close all customer accounts in Canada effective December 31, 2024. This decision was communicated to Canadian users via email on September 30, giving them a 90-day window to withdraw their assets from the platform.

The Canadian Securities Administrators (CSA) have once again extended the deadline for crypto trading platforms (CTPs) to comply with regulations concerning stablecoins, marking the second such extension.

In a significant update last week, the Bank of Canada announced a shift in its approach to central bank digital currency (CBDC) development, moving away from the idea of a retail digital Canadian dollar.

In a recent landmark ruling, the Supreme Court of British Columbia has set a precedent for the legal treatment of cryptocurrency in Canada.

Recent surveys conducted by the Bank of Canada reveal that the adoption of cryptocurrency for everyday transactions in Canada remains low, with less than 3% of Canadians using Bitcoin or other cryptocurrencies for payments in 2022 and 2023.

For the first time in 10 months, the global count of active Bitcoin ATMs has declined since July 2023. The United States and Canada jointly represent 91.4% of the total Bitcoin ATM network, with 31,089 (82.6%) machines in the U.S. and 2,909 (7.7%) in Canada.