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CSA forms new preregistration filing for crypto platforms

The Canadian Securities Administrators, the council of provincial and territorial securities regulators, announced  that crypto trading platforms will be expected to provide a preregistration undertaking to their principal regulators as they take steps to comply fully with securities regulation.

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The Canadian Securities Administrators, the council of provincial and territorial securities regulators, announced  that crypto trading platforms will be expected to provide a preregistration undertaking to their principal regulators as they take steps to comply fully with securities regulation.

Two platforms, Crypto.com and Coinsquare Capital Markets, have already filed those undertakings. Trading platforms will be expected to agree in the undertaking to comply with terms and conditions relating to investor protection. Filing the undertaking will allow crypto trading platforms to continue operating during the review of their applications for registration with the CSA.

Crypto.com and Coinsquare Capital Markets filed undertakings with the Ontario Securities Commission, which is their principal regulator. The CSA said in its announcement that it was in discussion with other platforms about the undertaking. Crypto trading platforms in Canada face lengthy waits for registration. They can obtain “restricted dealer” status before receiving full registration. Platforms that have applied to be restricted dealers still need to file the newly instituted undertaking.

Crypto.com pointed out in a statement that it is already regulated in Canada by the Financial Transactions and Reports Analysis Centre of Canada and the Autorité des marchés financiers of Quebec.  The CSA indicated that member organizations could “take action” against platforms that fail to file an undertaking.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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