Former Vault of Satoshi Customers Can't Collect

The Brantford Expositor reports that Vault of Satoshi still has a number of customers whose funds have not been returned, even though Vault of Satoshi ceased operations back in February. Expositor reported Susan Gamble along with general allegations against Vault of Satoshi's operators present the story of a customer, Scott Campbell: Continue reading

Ransomware Inception

CBC News reports (archive) that a Quebec family which paid a bitcoin ransom not once but twice still failed to recover their treasured family photos despite paying 5 BTC.

Upon reading the Cryptowall notification that their files had been encrypted and that a ransom was required to be paid if they wished to reclaim them, the couple took their PC to a local repair store which confirmed the legitimacy of the threat. Continue reading

Quebec Regulator: Bitcoin Businesses Need A Licence

Operators of Bitcoin ATMs and exchanges in the province of the "economic shithole" known as Quebec, Canada must now obtain a licence from the Autorité des marchés financiers after amendments were made by the AMF to the Policy Statement to the Money Services Business Act.

The requirement of a licence now means that businesses operating Bitcoin ATMs and exchanges in Quebec will now be obligated to keep a record of financial transactions in addition to verifying the identity of customers. Continue reading

Vault Of Satoshi Is Closing – Why?

Canadian owned and operated Bitcoin exchange Vault of Satoshi has announced their intentions to close the exchange as of February 5th 2015. As the timing of the announcement coincides with the current suspension of the Bitstamp exchange, VoS has stated that the decision to close the exchange has nothing to do with insolvency or stolen funds but merely a change of direction for the founders who wish to switch their focus to a non-Bitcoin project named TurboFlix. The announcement reads: Continue reading

Bank of Canada: Bitcoin Poses No Risk But We'll Watch It Closely Anyway

With her feet standing upon the shores of beach fiat, Carolyn Wilkins, the senior deputy governor for Bank of Canada stated on Thursday that the incoming Bitcoin tsunami does not currently pose a risk to stability in Canada. Conceding that the tsunami will indeed reach the shore, she continued by saying that Bitcoin must be watched closely for any threat it poses to the financial system. Continue reading

Troubles Continue For Canadian Bitcoin Miner Dominion Bitcoin Mining Company

Dominion Bitcoin Mining Company, a Canadian bitcoin mining operation, is facing a $10,000 fine for failing to procure the proper registration in order to offer securities to the public. The company had previously been under a cease-trade order from May through September after which having expired, no penalty was issued. Continue reading