Canadian securities regulators tighten rules for crypto platforms following Voyager, Celsius, FTX collapse
CSA cracks down on stablecoins, prohibits leverage, raises expectations regarding asset custody and segregation.
FinTech
F|T: The FinTech Times – Bank of Canada’s Ron Morrow: “it is your one chance to shape the regime.”
Plus: Stripe’s attempt to raise $55 billion.
Proposed regulations for Retail Payment Activities Act open for public comment
Bank of Canada’s Ron Morrow: “It is your one chance to shape the regime.”
Report: investment in Canadian FinTech dropped almost $6 billion USD in 2022
But overall investment was still bigger than 2020.
F|T: The FinTech Times – Layoffs continue to hit Canadian FinTech
Plus: PayPal’s CEO to retire at the end of 2023.
Thinkific, WonderFi, VerticalScope face leadership changes following layoffs
Canadian tech companies hit with executive exodus amid sector downturn.
As unregulated crypto players collapse around the world, Netcoins expands into the US
Canadian firm aims to offer “compliant” alternative to unregistered US exchanges.
Levr.ai closes $1 million in pre-seed funding to simplify loan applications
After seeing qualified businesses struggle to secure financing, Levr.ai sought to create an easier process.
Koho lays off 14 percent of staff
CEO claims cut doesn’t extend runway, but will support growth efforts.
Conquest Planning raises $24 million to expand AI financial advisor solution to US, UK markets
Conquest is backed by Fidelity, RBC, and Portage.
F|T: The FinTech Times – CoinSmart, Coinsquare split leads to legal proceedings
Plus: PayPal to cut 2000 workers.
Canadian Web3 Council calls on Senate to examine how to “effectively harmonize” regulatory framework for digital assets
Web3 Council to Senate: “Canada must not be left behind.”
CoinSmart to seek monetary damages from Coinsquare following collapse of acquisition deal
CoinSmart accepts deal is no more, intends to “commence legal proceedings against Coinsquare.”
As Clearco and Wayflyer struggle, Paperstack secures $9 million in equity, debt to fuel pivot into e-commerce lending
Paperstack sees room to grow as larger players cut back amid economic headwinds.
F|T: The FinTech Times – Stripe’s path to IPO
Plus: Blockstream lands $125 million.