Canada

Trade War Update: Canada is removing its “digital service tax” on tech companies to restart trade talks with the US. This comes just days after President Trump canceled trade talks with Canada due to this tax.   In 2020, the DST was introduced to solve the issue of many big internet businesses operating in Canada not having to pay taxes on Canadian-generated revenue. Country has consistently favored a multilateral agreement concerning the taxation of digital services. The DST was implemented to close the aforementioned tax gap while Nation was negotiating a multilateral deal with its foreign partners, particularly the United States, to replace national digital services taxes.

Source X
According to The Kobeissi Letter X post  “ Canada is removing its DST on tech companies to resume US trade talks, following President Trump's cancellation of such talks due to the tax.” Nation made an interesting approach, but tax reduction is not certain when the government is minority. Right now, Trump's pressure was effective—it's truly an art of the deal. Will other countries dig in or reconsider their DSTs as a result of this? Global tax negotiations remain a muddle.

Source X 
“Rescinding the DST will allow the negotiations of a new economic and security relationship with the US to make vital progress and reinforce our work to create jobs and build prosperity for all Canadians,” said Canada’s finance minister François-Philippe Champagn. 
Prime Minister Mark Carney said cutting the fees “will support a resumption of negotiations towards the July 21 timeline” for striking a trade deal that was declared at this month’s G7 leaders’ summit in Kananaskis.

Source X
Prime Minister Carney and President Trump aim for a comprehensive economic and security partnership by July 21, prioritizing Canadian workers and businesses. The US and Canada have agreed that they will resume negotiations with a view towards agreeing a deal. The Canadian government stated in a statement Sunday evening that it was taking a backseat to the toll in an effort to get the nations back to the negotiating table.
Digital Tax De-escalation: Smart Strategy or Political Gamble?
It was estimated that the DST, which was implemented last year, would generate $5.9 billion ($4.2 billion) in revenue over a five-year period. Large or international corporations that offer digital services to Canadians, like Alphabet, Amazon, and Meta, are subject to the three percent fee. Washington has already asked for dispute resolution discussions over the issue. The first payment is due by June 30, 2025, and the fee is applied retrospectively to revenue received since January 1, 2022. Social media services, online marketplace services, online advertising, and the selling or licensing of user data belonging to Canadians are its four main areas of focus.
Global reactions mixed: de-escalation or just a short-term patch?
Seems like economic pressure worked faster than expected. Removing the digital service tax shows how crucial US-Canada trade relations are — especially in tech. Let’s see if this opens the door to smoother negotiations or just a temporary patch. The fact that Canada has changed course and opened the door for negotiations while lowering the threat of tariffs is a blatant de-escalation signal. Although there is instant respite for US tech firms, the industry still has to deal with a patchwork of DST around the world and ongoing policy risk.
The true question is: when international cooperation lags, will other nations now reverse course or increase their own digital service taxes?

visit- CoinGabbar

#Canada #DigitalTax #USTradeTalks #Economy

🇨🇦 Big news in the crypto world! #Canada has officially approved and launched the first-ever spot #XRPETFs  — making it the first country in the world to do so. 🔥
👉 Two $XRP ETFs now live:
XRPP – by Purpose InvestmentsXRPQ – by 3iQ (with 0% fee for 6 months!)

Both are listed on the Toronto Stock Exchange and can be used in retirement accounts like TFSA and RRSP.
This is a massive step for #XRP adoption and brings real crypto exposure to traditional finance!
💬 What do you think — will the U.S. follow soon?

#FOMCMeeting #MyTradingStyle

On March 9, 2025, the Liberal Party of Canada announced Mark Carney as the country’s new Prime Minister, replacing Justin Trudeau after more than seven years in office. Carney, who won the party’s internal election in a landslide, brings extensive experience as the former Governor of the Bank of Canada (2008–2013) and the Bank of England (2013–2020). However, his views on Bitcoin and cryptocurrencies have drawn attention, particularly due to his past statement that Bitcoin has "serious deficiencies."

Background of Carney’s Bitcoin Critique
Mark Carney first voiced his critical stance on Bitcoin as early as March 2, 2018, while serving as Governor of the Bank of England. In one of his remarks, he highlighted Bitcoin’s fixed supply cap—limited to 21 million coins—as a fundamental flaw. Carney argued that this rigidity creates what he termed a "criminal act of monetary amnesia," drawing a parallel to the historical global gold standard. He suggested that recreating such an inflexible monetary system in the modern era was unwise.
Carney compared Bitcoin to the gold standard, asserting that its fixed supply prevents it from adapting to the dynamic needs of an economy. In his view, a currency that cannot be managed by a monetary authority to regulate inflation or ensure economic stability suffers from inherent weaknesses as a medium of exchange, unit of account, or store of value.

Carney’s Stance on Digital Currencies and CBDCs
While critical of Bitcoin, Carney is not entirely opposed to digital currency innovation. During his tenure at the Bank of England, he expressed support for the development of Central Bank Digital Currencies (CBDCs)—digital currencies issued and regulated by central banks. He views CBDCs as a natural evolution of monetary systems, enabling central banks to maintain price stability and control inflation, something he believes Bitcoin cannot achieve due to its decentralized nature.

In a 2021 lecture at the Bank for International Settlements, Carney stated that unregulated digital tokens like Bitcoin would only hold "token value" and could not serve as the core of a programmable financial network. This reinforced his preference for a monetary system under centralized oversight.

Comparison with Predecessor Justin Trudeau
Carney’s stance on Bitcoin appears more stringent than that of his predecessor, Justin Trudeau. In September 2022, Trudeau criticized opposition leader Pierre Poilievre’s pro-crypto platform, calling it "irresponsible leadership" for encouraging people to escape inflation by investing in cryptocurrencies. Carney, however, goes further with a monetary policy-based critique, signaling a deeper skepticism about Bitcoin’s legitimacy as an economic tool.

Carney’s Financial Sector Experience and Stripe
Interestingly, Carney also has experience in the payment technology sector. From February 2021 to January 2025, he served on the board of Stripe, a payment processing company that began integrating crypto payment solutions between 2022 and 2024. Despite this, his time at Stripe does not appear to have softened his views on Bitcoin as a monetary asset; rather, it may have reinforced his belief in innovations that remain within a tightly regulated framework.

Current Political and Economic Context
Carney’s appointment as Prime Minister comes amid significant economic challenges for Canada, including responding to new tariffs imposed by U.S. President Donald Trump. In his victory speech on March 9, 2025, Carney denounced Trump for "attacking Canadian families" with what he called unfair tariffs, asserting that Canada "will never be any part of America in any way, shape, or form." This focus on economic sovereignty may also reflect his cautious approach to monetary innovations like Bitcoin.

Potential Impact on Canada’s Crypto Policy
With Carney now leading Canada’s $1.9 trillion economy, his views on Bitcoin and crypto could shape future policies. His critique of Bitcoin suggests he may push for stricter regulations on decentralized crypto assets while accelerating the Bank of Canada’s exploration of a CBDC. This contrasts with the ambitions of figures like Conservative Party leader Pierre Poilievre, who once pledged to make Canada the "blockchain and crypto capital of the world."

Public Sentiment on Social Media
Sentiment on X reflects concern over Carney’s stance on Bitcoin. A user, @syntoshidog, posted on March 10, 2025, "Canada’s new PM Mark Carney once called Bitcoin’s supply cap a criminal act of monetary amnesia while backing CBDCs, now steering policy for a $1.9T economy." Another user, @EdGeraldX, quoted Carney’s remark that recreating a virtual gold standard is "criminal," highlighting unease within the crypto community about his leadership direction.

Conclusion
Mark Carney, Canada’s new Prime Minister, brings a critical perspective on Bitcoin rooted in his extensive experience as a central banker. His assertion that Bitcoin has "serious deficiencies" and his analogy of "monetary amnesia" underscore his preference for centralized, controllable monetary systems. While his tenure as leader will be tested by economic and political challenges, his stance on crypto is likely to influence Canada’s approach to financial innovation in the coming years. For the crypto community, Carney’s leadership could signal tighter regulations ahead, while the door for CBDCs may swing wider open.
#Canada #CryptoNews #news #bitcoin #MarketPullback

Канада официально становится пионером: Solana ETF запускаются с одобрения регулятора OSC. Причём речь не просто об отслеживании цены — фонды будут хранить реальные токены SOL. Это шаг к полной институционализации Solana.

В проекте участвуют крупнейшие управляющие компании Канады:
• Purpose Investments
• Evolve ETFs
• CI Global Asset Management
• 3iQ

Ключевая особенность — возможность стейкинга прямо внутри фонда.
Это значит, что инвесторы смогут не только держать актив через ETF, но и получать дополнительную доходность за счёт участия в сети. Стейкингом будет заниматься TD Bank — один из крупнейших банков страны.

Почему это важно?
• Институциональные деньги идут в Solana
• Появляется пассивный доход через ETF
• Solana предлагает высокую доходность стейкинга (выше, чем у Ethereum)
• Фонды нацелены на разные стратегии — от агрессивных до сбалансированных

На фоне новостей Solana уже прибавила +25% за неделю.
Сеть вышла на 1-е место по количеству транзакций — 355 млн за 7 дней (данные Nansen). Активно обсуждается в соцсетях — Solana снова в тренде.

Текущий диапазон: $125–135
• Пробой выше $137 открывает дорогу к цели $151
• Поддержка на уровне $125
• В случае просадки — возможная коррекция к $117

Запуск этих фондов может стать поворотной точкой — как для Solana, так и для всего крипторынка. Пока в США только обсуждают одобрение, Канада уже внедряет.

Ты уже в позиции?
#etf #Canada $SOL