Canada in Focus
The price of bitcoin has fallen again, leaving it at an extreme low – especially when compared to the price in December 2017 when it was over $20,000 CAD. The drop has been seen across the wider cryptocurrency market, including Rillple’s XRP and Ethereum. Analysts attribute the drop to several causes, but say there is an overall fear in the market surrounding security and blockchain technology itself.
Elections Canada, the agency responsible for policing the federal political fundraising efforts, is now polling parties on how best to manage contributions made with bitcoin and other cryptocurrency platforms. The agency has released a draft interpretation note detailing how these types of transactions should be handled. Parties will have until January 21 to submit their views on the issue, and will determine whether or not changes should be made to the final version of the note. Elections Canada has currently taken the position that cryptocurrency donations are considered non-monetary.
Following a previous announcement, Deloitte announced a plan to help The Institutes RiskBlock Alliance expand into Canada. This move could signal a significant step towards the development and international grown for blockchain-based insurance applications. RiskBlock also announced that it would chair blockchain standards for ACORD, the global body responsible for setting insurance industry standards.
The Canada-based securities broker Finequia has partnered with Nivaura, a capital markets technology company building a new way for automated issuance and administration of financial products under the auspices of the U.K. Financial Conduct Authority’s “sandbox” regime. The partnership will deliver a fully tokenized bond-issuing in the UK. The news was announced in a press release this week, and mentioned how the type of tokenization in question is still relatively unexplored in the crypto space. The two companies will run a test on the Ethereum network, including registration and a token distribution before its official launch.