Canada Clarifies Tokenized Deposits, Coinbase Expands Crypto Services
Canada has clarified its stance on tokenized deposits, stating that they are legally equivalent to traditional bank deposits. This development comes as Coinbase introduces native crypto derivatives in Canada through its Strong CFM approval.
The platform offers 23 perpetual and expiring futures contracts, expanding the range of investment options available to Canadian traders. Meanwhile, Coinbase has strengthened its partnership with Webull to offer cryptocurrency custody and trading services in the Canadian market.
A recent court case saw a 20-year-old Canadian plead guilty to money-laundering conspiracy, relating to a $13M crypto fraud case. Additionally, CADD, a payment stablecoin backed by Canadian dollars, has received regulatory approval from Alberta Treasury Board.