Canada Created New Cryptocurrency Regulations to Counteract Theft and Money Laundering

canada cryptocurrency

Canadian authorities are now taking decisive steps to eliminate cryptocurrency crimes in the country. The Canada Gazette has recently made a publication which contained info on the new laws which all the projects working with cryptocurrencies will have to adhere to.

Although, the rules are still in a draft version, they are not likely to be altered drastically. The government has high hopes that this act will help to improve the existing flaws in the sphere. The most attention will be devoted to the regime of AML and ATF (Anti-Money Laundering and Anti-Terrorist Financing).

According to the Canadian blockchain expert, Francis Pouliot, the KYС system will undergo some changes, namely:

He also added that under the above-mentioned regulations, cryptocurrency exchanges will be considered money service businesses.

All of this has been encouraged by the Canadian Financial Action Task Force, the main goal of which is to fight money theft. Such cases, especially the ones involving cryptocurrencies, have become more numerous. For example, hackers have recently broken into 2 Canadian banks demanding $1 million in XRP tokens for the private information of the users.

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SEC Regulations and SEC Vision Are Two Completely Different Things: What Does It Mean for Ethereum?

sec and eth

The Securities and Exchanges Commission is the most influential organization in the US when it comes for crypto. If the SEC officially disapproves a project, this project is doomed. Crypto exchanges, crypto companies, ICO startups all comply with the mighty SEC.

However, it is important to distinguish when the SEC comes out with an official statement and when the SEC representatives declare their thoughts and opinions on a particular issue.

This is what the report published by Jay Clayton on the official website of the SEC is about:

Statements issued by SEC staff frequently include a disclaimer underscoring the important distinction between the Commission’s rules and regulations, on the one hand, and staff views on the other.”

This leads us to another thought. So far the crypto community was sure the SEC did not consider Ethereum a security on the official level. However, now it turns out that it was just the point of view of the abovementioned Jay Clayton.

Thus, Ethereum might still be a security after all. Hopefully, it will boost its exchange rate a little, since it hasn’t been particularly high these couple of weeks.

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Akon: Nobody Knows What Cryptocurrency Is, But It Doesn’t Mean You Should Not Invest Into It

akon talks crypto

The famous American rapper Akon, the author of such hits as Smack That and Right Now, seems to be very interested in cryptocurrencies. First, he announced the launch of his own digital coin – Akoin – which is supposed to be the currency of a crypto city in Africa.

While the details of his ambitious plan have not yet been revealed, Akon keeps researching the possibilities of the crypto world. Recently he gave an interview where he discussed the financial situation in Africa and his vision on cryptocurrency.

When the interviewer said he did not quite what cryptocurrency was in the first place, Akon’s response was simple – “Nobody does.” The rapper actually finds digital assets very similar to regular company shares.

You know they’re going to yield an investment. You go there with your money because you know, these guys, in the next four, five or ten years, their projection said they are going to make triple what they are making now.” – he mentioned.

In the end, Akon said he would keep studying the subject and would do everything in his power to improve the difficult situation in Africa.

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Elon Musk Turned to the Creator of Dogecoin for Help in the Fight Against Twitter Scammers

musk needs help with crypto spammers

The CEO of Tesla Motors, entrepreneur and engineer Elon Musk published a message in his Twitter meant for the creator of the cryptocurrency Dogecoin Jackson Palmer with the request to invent a way to deal with crypto scammers on the social network.

A few minutes later, Musk received a response with an invitation to use a script that would resolve the issue with the scammers. Judging by the message of Dogecoin’s creator, Elon Musk used it.

https://twitter.com/ummjackson/status/1041577055970893824

We remind you that Elon Musk had to deal with Twitter fraudsters not once and not twice. Bots with offers to receive different cryptocurrencies for free were attacking Musk so much that he even started writing brilliant responses to them. Later, the social network management even began to block accounts containing the name of Elon Musk.

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McAfee Birthday Collection: Top-5 Eccentric Statements, Promises, Innovations and Scandals

john mcafee birthday compilation

The editorial board of The Coin Shark wishes happy birthday to the most unconventional crypto personality John McAfee and hopes he will thrive and please the crypto community for many more years.

For this occasion we decided to compile the loudest things that McAfee has said or done this year.

1. There is no doubt that the wildest promise of John McAfee remains his infamous claim about the price of Bitcoin in 2020. The interesting part is, of course, related to the physical tortures that McAfee is ready to face if his predictions turn out to be wrong.

2. Another loud claim of McAfee was his firm intention to run for presidency during the next election. Given the low levels of popularity that the current US President is coping with, we believe that anything might happen at this point. Politics aside, no doubt that the crypto world will be thrilled to have such a president.  

3. We could not leave out the epic with McAfee’s crypto wallet Bitfi. Was it really hacked? Was McAfee planning to give such a pricy award? We don’t know. However, what we do know is that the story brought a whole lot of attention to the wallet, so maybe it was an ultimate goal in the first place.

4. The CoinMarketCap should beware, because John McAfee is on its toes. His own site with market capitalization and cryptocurrency exchange rates is already functioning.

5. Last, but certainly not least comes the McAfee crypto challenge. Brilliant minds with innovative crypto solutions can join his team to improve and develop the crypto world together.

Anyway, even if John McAfee does not eat any parts of his body or loses the run for presidency, he will always remain one of the brightest stars of the crypto universe. Happy birthday, John!

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Bitcoin and Ethereum Price Analysis Today on the 18th of September: Cryptocurrencies Collapsed Again

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coin360, Bitcоin (BTC) lost 3.07% in the past 24 hours. The price at the time of writing is $6286 per coin.


Source: https://coin360.io/

In the past 24 hours Bitcoin reached the highest mark for the day at $6452, later it fell drastically to $6338 and then fell to $6257 per coin. At the time of writing BTC added about $30.


Source: https://coinmarketcap.com/

In this time interval, we can observe a downtrend.

The remaining cryptocurrencies fell into the deep red zone:

Bitcoin Cash lost 7.23% over the past day and costs $414 per coin;

Ripple dropped by 2.50% and is worth $0.27;

EOS fell by 9.17%, and its price is $4.86;

Litecoin lost 7.79% and its value is $51;

Cardano fell by 7.69% and is worth $0.063;

Stellar decreased by 3.51% and costs $0.19;

IOTA lost 6.01%, and its value is $0.53;

Dash lost 6.58%, and its price is $182;

Monero became cheaper by 7.89% and is worth $107.

Ethereum reached the highest mark of $221 in the past 24 hours. A few hours later, ETH dropped to $195. At the time of writing, the price of the coin is $197.


Source: https://coinmarketcap.com/

The total market capitalization dropped to $192 billion. Bitcoin accounts for 56.3% of the total volume. In monetary terms, this is $108 billion.

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A Bitcoin Challenge Started Out in China: 21 Days With 0.21 BTC. Why Was It Stopped After Just 3 Days?

bitcoin challenge in china

We all have seen these shows where a person needs to survive a certain period of time with a limited amount of money in different locations. The Chinese TV decided to take it even further and add a new twist to the story.

A girl named He You Bing took up a challenge, during which she had to survive 3 weeks only having 0.21 BTC (approximately 1300 USD). That was all the money she had for food, dwelling and satisfying basic needs.

Considering the prices in China and also the fact that He You Bing carried out the challenge in megalopolises like Shanghai and Shenzhen (which are even pricier), it would seem quite an impossible task to complete.

However, if we think of the situation with cryptocurrency in China, here came another trouble for the girl, which was way more serious than the little amount of money.

He You Bing simply couldn’t find establishments that accepted BTC as a means of payment. She went from place to place, but most of the times very few people even knew about Bitcoin and cryptocurrencies in general, let alone accepted it. As a result, she had to eat wild fruits from the trees, free samples from shops and sleep in 24/7 cafes.

By the end of the 3rd day the challenge had to be stopped, and He You Bing had to be taken to the hospital due to starvation symptoms – the girl was on the verge of losing consciousness.

However, she reached ones of her goal – the challenge attracted attention of the public, thus, raising cryptocurrency awareness in China. Hopefully, next time the girl will choose less radical methods to do so.

We remind you:

McAfee Cryptocurrency Challenge Is Going Live

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