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Think Tank Recommends Bank of Canada to Issue Digital Currencies

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Believe Tank Recommends Bank of Canada to Concern Digital Currencies

The C.D. Howe Institute, a think tank, talked about Wednesday that the Bank of Canada(BoC)should consider providing a digital currency. According to Global News, the think tank believes that stablecoins pegged to the Canadian dollar might end up being attractive for the customers if they can be transformed into cash.That stated,

the Institute pointed out that stablecoin platforms can be admitted to the main bank’s liquidity centers and deposit insurance to alleviate the risks involved. Still, the think tank wasn’t clear if the virtual currency they discussed is particularly a main bank digital currency (CBDC).

Additionally, the C.D. Howe Institute believes that such a digital currency issuance might motivate the economic sector to get interested in the crypto field and eventually adopt these type of stablecoins.Suggested short articles Are You Prepared For iFX EXPO Dubai 2022? Go to post

> > On another Canadian crypto-related front, the Canadian Securities Administrators >>

(CSA)launched in September a set of standards on Thursday, targeting all marketing and advertising campaigns pursued by crypto trading platforms. According to journalism release, the regulator had observed a series of marketing banners and declarations that might mislead investors.Crypto Marketing in Canada The Canadian watchdog observed a pick-up in such projects targeting domestic financiers.

Additionally, it reveals a pattern of

showing casino-style advertisements that do not meet the requirements of the CSA due to the fact that it encourages’excessive and risky trading by retail investors.’Moreover, the CSA stated that it would pay closer attention to social networks marketing related to cryptocurrencies to make sure it is certified with the new guidelines. In March, both the CSA and IIROC released new assistance identifying securities law requirements that use to crypto-asset trading platforms.The proposed regulative framework includes compulsory licensing for certain cryptocurrency trading platforms, particularly those that keep client funds control.

Nevertheless, non-custodial exchanges appear most likely to gain from a registration exemption, supplied that they do not offer margin or leveraged trading. Published at Thu, 25 Nov 2021 21:58:46 +0000

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