ChainCatcher news, according to IT Home, five major media outlets including the Canadian Press, CBC, Torstar, Postmedia, and the Globe and Mail have filed a lawsuit against OpenAI in the Ontario Superior Court, accusing it of extensively scraping their copyrighted content for training AI models like ChatGPT without permission and compensation. The lawsuit document spans 84 pages, demanding OpenAI to compensate for damages and to permanently prohibit unauthorized use of their content. OpenAI responded that its model training is based on publicly available data, adheres to fair use principles, and provides publishers with content attribution and opt-out options.

ChainCatcher news, according to Cointelegraph, Ken Sim, who has served as the mayor of Vancouver since 2022, announced that the city of Vancouver, Canada, plans to add Bitcoin to its balance sheet as part of its efforts to diversify investments.At a Vancouver City Council meeting held on November 26, Mayor Sim submitted a notice of motion scheduled for December 11, titled "Maintaining the City's Purchasing Power through Financial Resource Diversification: Becoming a Bitcoin-Friendly City." As of November 27, the motion does not appear to have been published on the city government website, and the Vancouver Mayor's Office declined to comment.It is unclear whether the mayor's motion is a response to local and federal governments in the United States considering legislation to establish Bitcoin reserves. After the 2024 elections, legislators in the Pennsylvania House of Representatives and the U.S. Senate have proposed plans for the government to hold Bitcoin as a reserve asset.

ChainCatcher message, Goldman Sachs expects the Bank of Canada to cut interest rates by 50 basis points at the December meeting, up from the previously expected 25 basis points.

ChainCatcher news, according to Chainwire, the cryptocurrency news and analysis platform CCN has released a latest report on the Canadian cryptocurrency market. The report shows that the Canadian cryptocurrency market has rapidly expanded over the past year, with an estimated 10% of Canadians currently holding some form of cryptocurrency. Bitcoin and Ethereum account for over 60% of the total market share in Canada, while other altcoins like Solana and Chainlink are also gaining attention.The report points out that increased institutional interest, a favorable regulatory framework, and a growing public awareness of digital assets are the main factors driving market growth.Additionally, the new regulatory guidelines introduced by the Canadian government in 2024 further encourage cryptocurrency exchanges and individuals to participate more actively in the market.

ChainCatcher news, Canadian benchmark bond yields are rising in tandem with U.S. Treasury trends, as financial markets bet that Trump will reapply inflationary pressure. The upward movement in yields is bound to complicate the Bank of Canada's efforts to revive the economy and prevent inflation from slowing too quickly.So far, the Bank of Canada has been the most aggressive in easing policies among the G7 central banks this year. Karl Schamotta, Chief Market Strategist at foreign exchange firm Corpay, said, "As the risks of rising import prices begin to materialize, the Bank of Canada is likely to slow the pace of easing." Measures by the Trump administration that could exacerbate inflation include imposing a 10% tariff on all imported goods and significant tax cuts that could lead to an expanded deficit. (Jin Shi)

ChainCatcher news, the Web3 payment platform Transak has registered as a Money Services Business (MSB) with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), and in the United States, it has obtained a Money Transmitter License (MTL) in Delaware.The FINTRAC registration recognizes Transak Canada as an MSB, requiring the company to comply with strict Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) standards.In the United States, Transak USA LLC has obtained its second state-level MTL, this time in Delaware, after the company received its first license in Alabama in September. The Delaware license allows Transak to offer regulated crypto services to residents and businesses in the state, including the purchase and transfer of digital assets.

ChainCatcher news, according to Cointelegraph, Dean Skurka, President and CEO of digital financial services company WonderFi, believes that the interest rate cuts in Canada and the United States, along with the upcoming 2024 U.S. presidential election, will continue to drive Bitcoin prices higher in the next 6-24 months.In an interview with Cointelegraph, Skurka explained that the recent decision by the Bank of Canada to lower interest rates by 50 basis points, along with the Federal Reserve's ongoing rate cut plan starting in September 2024, will encourage retail and institutional investors to enter the market or increase their existing positions.Skurka also emphasized that the upcoming 2024 U.S. presidential election is a major catalyst for Bitcoin prices, as the cryptocurrency industry believes that a Trump presidency would be beneficial for cryptocurrencies, while a Harris victory could cause a price shock in the short term.

ChainCatcher news, cryptocurrency exchange Gemini stated in an email sent to Canadian users on September 30 that it will close all accounts in Canada by December 31 (with a few exceptions), and users have 90 days to withdraw their assets from the platform. A few months ago, Canadian financial regulators jointly introduced regulatory requirements for cryptocurrency exchanges and trading platforms operating within Canada.On February 22, the Canadian Securities Administrators (CSA) issued a notice requiring all crypto asset trading platforms to sign a legally binding pre-registration commitment in order to continue operating in the country.Gemini quickly complied with the new requirements and submitted its pre-registration application on April 13. A spokesperson stated that Canada is "one of the most important and developed markets in the Americas" and has "played a significant role in Gemini's international expansion." Other major exchanges, including OKX, dYdX, Paxos, Bybit, and Binance, have also announced their exit from the Canadian market.

ChainCatcher news, according to DLNews, Canadian securities regulators have extended the compliance deadline for cryptocurrency trading platforms, pushing it to the end of 2024. The new deadline was initially set for October to give exchanges more time to meet regulatory requirements or propose safer alternatives.

ChainCatcher message, the Bank of Canada has suspended its plans for a central bank digital currency (CBDC), and the central bank did not specify the reasons for the suspension. The Bank of Canada first launched a research project in 2019 to explore the creation of a digital Canadian dollar and conducted public consultations in 2022.The central bank stated that it will continue to conduct policy research and analysis on payment developments both domestically and internationally.

ChainCatcher news, Montreal Bank Chief Economist Douglas Porter stated that the Canadian economy is moving forward at full speed, albeit struggling to maintain balance, but still experiencing slow growth. The latest GDP data should dampen discussions about the Bank of Canada significantly lagging behind the yield curve and quell rumors that it might make a substantial rate cut of 50 basis points next time.Data shows that Canada's annualized growth rate in the second quarter was slightly above 2%, higher than the Bank of Canada's latest estimate of 1.5%. However, this figure is still only slightly above 1% compared to last year, indicating that economic weakness is still intensifying considering the expected population growth.

ChainCatcher news, U.S. Senator Cynthia Lummis posted on the X platform hinting at a significant announcement related to Bitcoin this week, stating: "₿ig things are in store this week." The "B" is replaced with the Bitcoin symbol.It is reported that Cynthia Lummis has been serving as the federal senator from Wyoming since 2021. During her time in Congress, she has actively promoted legislation for digital assets and Bitcoin. Cynthia Lummis is an early adopter of Bitcoin, having supported the development of Bitcoin and blockchain technology since she first purchased Bitcoin in 2013.

ChainCatcher news, according to official sources, the cryptocurrency advocacy organization Stand with Crypto has announced its expansion to Canada, aiming to promote cryptocurrency innovation and policy.According to a survey conducted by Coinbase and Angus Reid, 86% of surveyed Canadians believe that the country's financial system needs an update. The majority (80%) think that the current system is unfair to everyone (76%), out of touch with reality (76%), and designed to benefit corporations (83%) and the wealthy (73%).Additionally, 72% of respondents believe that regulation of cryptocurrency exchanges is important. Nearly one-third of surveyed Canadians (29%) stated that they would be more inclined to purchase cryptocurrency if the industry had more regulation.

ChainCatcher news, FOX Business reporter Eleanor Terrett announced the list of attendees for today's crypto roundtable on social media. Important attendees include:Biden Senior Advisor Anita DunnMark CubanCoinbase Chief Legal Officer Paul GrewalBitGo Co-founder Mike BelsheDCG Vice President of Public Policy Julie Stitzela16z Head of Government Affairs Collin McCuneKraken Chief Compliance Officer Marco SantoriFormer CFTC Chairman Chris Giancarlo (Paxos Board Member)Pantera Chief Compliance Officer Katrina PagliaFormer SEC Senior Advisor Justin Slaughter (Paradigm Policy Director)Uniswap Labs Chief Legal Officer Marvin AmmoriCircle Chief Strategy Officer and Global Policy Head Dante DisparteIn addition, attendee Congressman Ro Khanna reported that he believes today's meeting "made a productive step forward," and Biden Senior Advisor Anita Dunn participated in the meeting for about an hour.

ChainCatcher news, according to the official Twitter of the Blockchain Futurist Conference, WEEX will attend the Blockchain Futurist Conference as an official sponsor.It is reported that this conference is Canada’s largest Web3 event, and this year’s conference will be held on August 13-14 in Toronto. Other sponsors include $SHIB, $LDT, Coinbase, METIS, Kraken, K9 Finance DAO, Crypto.com, Bitcoin.com, Figment, Truflation, Matrix Labs, etc. The discussion topics will cover Web3, DeFi, NFT, AI, GameFi, robotics, and more, with over 7,000 attendees expected.

ChainCatcher news, the Bank of Canada announced a 25 basis point rate cut to 4.75%, marking the "first cut" among G7 countries.

ChainCatcher news, Bitcoin ATM operator Bitcoin Well has launched a Lightning Network payment service in Canada, allowing Canadian customers to instantly sell Bitcoin through any personal Lightning wallet. Adam O'Brien, founder and CEO of Bitcoin Well, stated that this innovation enhances the speed, security, and cost-effectiveness of Bitcoin sales, making it more convenient for users than the US dollar in the modern banking system.

ChainCatcher message, according to a supplementary document of the 2024 budget, Canada is expected to adopt the International Crypto Asset Reporting Framework (CARF) for taxation before 2026. CARF will impose new reporting requirements on Crypto Asset Service Providers (CASP), such as cryptocurrency exchanges, crypto asset brokers and dealers, and crypto asset ATM operators, whether they are individuals or business entities.