ChainCatcher news, according to Cointelegraph, securities regulators in Alberta and New Brunswick, Canada, have warned that crypto scammers are exploiting trade war panic by using fake news articles and images of government figures to profit.The Alberta Securities Commission stated in a warning on March 7 that a crypto investment scam named "CanCap" has been impersonating news articles from the Canadian Broadcasting Corporation (CBC) and falsely claiming endorsement from then-Prime Minister Justin Trudeau. The regulator said, "The false articles claim that the Prime Minister is responding to U.S. tariffs and supports an investment plan involving digital currency."The New Brunswick Financial and Consumer Services Commission also warned on March 5 that CanCap used fake news articles claiming that New Brunswick Premier Susan Holt supports the platform, including fabricated interview records with Holt and altered photos with CBC.Regulators noted that scammers are increasingly exploiting current events to prey on the fears of potential victims and are using artificial intelligence to forge endorsements and generate content to make the scams appear legitimate.They added that scammers can quickly change the names and appearances of their schemes, having already used names like "CanCentra" and "Immediate Flectinium," linking them to at least six other different domain websites.

ChainCatcher news, according to Cointelegraph, the Canadian Investment Regulatory Organization (CIRO) released the latest "List of Securities Eligible for Reduced Margin Requirements" on February 5, explicitly excluding cryptocurrency funds from the reduced margin policy. CIRO stated that considering the volatility of crypto assets, liquidity risks, and regulatory uncertainties, this policy will remain in effect until further notice.According to the regulations, securities eligible for reduced margin requirements must meet several conditions, including a price volatility not exceeding 25%, a public float market capitalization of over 100 million Canadian dollars, and an average daily trading volume of 25,000 shares, among other requirements. This move will increase the leverage trading costs for crypto funds.

ChainCatcher news, according to Bitcoin.com, the British Columbia Securities Commission (BCSC) recently announced that Liquitrade Ltd. was operating Latoken without registration, effectively running an illegal exchange in the province.The BCSC stated that a group investigating the operator found that users of the cryptocurrency trading platform "were not actually buying and selling assets," but were trading contractual rights to those assets, which allowed them to request future withdrawals of those assets. The group determined that these rights were derivatives, with value derived from the underlying crypto assets.The BCSC's statement added: "The expert group found that Liquitrade, despite not being registered under the Securities Act, facilitated trading in various ways, including creating a derivatives trading market and promoting derivatives traded on Latoken. The investigation team also found that LiquiTrade operated in the form of an exchange. However, it did not have authorization from the BCSC, which is required by the Act."

ChainCatcher news, according to a report by Cointelegraph, Binance has appealed a CAD 6 million (approximately USD 4.4 million) fine imposed by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) in a document submitted to the Canadian federal court system on June 5, alleging that the FINTRAC director did not comply with anti-money laundering and counter-terrorism financing (CFT) regulations.In May of this year, FINTRAC fined Binance CAD 6 million (approximately USD 4.4 million) for failing to register as a foreign money services business and for not reporting virtual currency transactions exceeding CAD 10,000. In its appeal, Binance stated that it did not provide services directly to Canadian residents and announced its exit from the Canadian market in May 2023.

ChainCatcher news, according to CoinDesk, Canadian regulators have fined Binance CAD 6 million (approximately USD 4.3 million), charging the cryptocurrency exchange with two separate "administrative violations" of the country's financial regulations.The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) stated that despite providing Binance with "several opportunities," it failed to register as a foreign money services business. Between June 1, 2021, and July 19, 2023, Binance failed to report 5,902 cryptocurrency transactions exceeding CAD 10,000 and their accompanying KYC information to the regulators. The agency discovered the violations using blockchain browser tools.

According to CainCatcher news, the cryptocurrency exchange platform Gemini has submitted a pre-registration undertaking to the Ontario Securities Commission (OSC) in preparation for its expansion into the Canadian market. (Source link)

ChainCatcher news, Canadian banking regulators took control of Silicon Valley Bank's branch in Canada on Sunday and stated that they would seek a legal order to cease its operations. The office of Peter Routledge, head of the Canadian Financial Institutions Regulatory Authority, said in a statement that this action was taken to protect the value of the assets held by the branch after U.S. regulators closed Silicon Valley Bank.It is reported that some mainstream banks in Canada have seen a loss of $19.7 billion in value due to the ripple effects of Silicon Valley Bank. (Reuters)