Category Archives: Blockchain, Crypto, Digital Assets Regulations

Crypto.com Canada Gains Canadian Regulatory Approval

Crypto | May 15, 2025

Crypto.com Canada Receives Restricted Dealer Registration to Continue Serving Customers

On May 12, 2025, Crypto.com Canada announced that on May 8 they received a restricted dealer registration across all Canadian provinces and territories, allowing the platform to continue offering crypto asset products and services while it works toward full investment dealer registration and CIRO membership.

This regulatory milestone aligns with Crypto.com’s earlier commitment to the Canadian Securities Administrators and Ontario Securities Commission in August 2022, when it became the first crypto trading platform to sign a Pre-registration Undertaking (PRU). The PRU was created to provide a temporary path for firms to continue operations while meeting Canada’s robust regulatory standards.

See:  Stablecoin Payments Have Wings – Are You Ready?

Eric Anziani, President and Chief Operating Officer at Crypto.com:

“We have strong protocols for our Canadian operations which were put in place or strengthened during the course of the registration process and are designed to enhance the protection of our customers and their asset.  We have invested heavily in our compliance infrastructure around the world, and specifically in relation to Canada, because we want our customers to have greater peace of mind knowing that they are dealing with a regulated firm in Canada.”

Crypto.com Custody Trust Company (chartered trust company licensed in New Hampshire) will be the primary digital asset custodian for Canadian clients.

According to Joe Anzures, President of the custody unit, “Crypto.com Custody Trust Company looks forward to providing secure custody services to the Canadian market and to registered cryptocurrency trading platforms who will operate in accordance with the high standards established by Canadian securities regulators.”

See:  Robinhood Acquires WonderFi for C$250M

Crypto.com’s Canadian registration adds to a growing global portfolio of licenses including:

  • MiCA license in the European Union
  • Money Transmitter Licenses (MTLs) in multiple U.S. states
  • Designated Contracts Market (DCM) and Derivatives Clearing Organization (DCO) status in the U.S.
  • Major Payment Institution (MPI) license in Singapore
  • Electronic Money Institution (EMI) license in the UK
  • Virtual Asset Service Provider (VASP) license in Dubai

Outlook

Crypto.com’s restricted dealer registration highlights regulatory progress and a maturing market in Canada’s crypto sector. As more platforms become licensed and registered to operate in Canada both retail and institutional clients will benefit from more competition and improved confidence and safeguards.  It also shows that top global crypto players are willing to meet Canada's high compliance standards, if there is a clear path to registration and market opportunities.


NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

Trump Order Redefines Regulatory Violations

Enforcement | May 12, 2025

Freepik judge

Image: AI Freepik

Agencies Must Now Prove Intent Before Pursuing Regulatory Crimes

On May 9, 2025, U.S. President Trump signed an executive order called 'Fighting overcriminalization in federal regulations' that changes how federal agencies can or cannot pursue criminal enforcement for regulatory violations, redefining risk for fintech and crypo leaders. The policy order says prosecutors must now show clear evidence that a person or company intended to break the law before charging them criminally.

See:  Celsius Founder Sentenced to 12 Years for Crypto Fraud

This move targets the issue of overcriminalization and aims to reduce legal risk for businesses that unknowingly violate complex or technical rules. It could reshape how enforcement decisions are made in fintech, crypto, and other innovation-driven sectors.

The Executive Order Directs All Federal Agencies

Here's a link the fact sheet published by the White House.  Essentially the order mandates all federal agencies to:

  • Each federal agency must consult with the Attorney General and compile, publicly post, and maintain annually a list of all enforceable criminal regulatory offences.
  • The order discourages criminal enforcement for regulatory offences unless there is clear evidence that the individual or entity knowingly violated the law, causing or risking substantial public harm. Strict liability offences that do not require proof of intent are generally disfavoured.
  • If intent cannot be established, agencies are encouraged to pursue civil or administrative remedies instead of criminal prosecution. This aims to prevent individuals and businesses from facing criminal penalties for unintentional regulatory violations.

See:  Bank of Canada Warns PSPs Enforcement Coming

  • All agencies in consultation with the Attorney General must publish guidance within 45 days of the order, outlining the factors considered when referring violations for criminal enforcement.
  • The executive order explicitly states that the new standards do not apply to immigration or national security matters. For all other areas, criminal liability now depends on whether someone knowingly violated a law or rule.

Who Might Benefit from This Policy Change

1. A good example may be former Binance CEO, Changpeng Zhao (CZ) who was sentenced to four months in prison in 2023 for violating the Bank Secrecy Act. The case focused on compliance gaps, not fraud. Similar enforcement actions in the future might be handled differently if there was no evidence of intent.

2. These two former Coinbase employees, Ishan and Nikhil Wahi, were convicted of insider trading using confidential listing information. Since their actions were deliberate, the order may not directly apply to them but it might influence how prosecutors approach future cases involving gray areas in trading conduct.

3. Fintech and crypto companies operating in complex and evolving regulatory environments may benefit the most. The new policy could limit criminal risk for teams that unintentionally violate reporting, registration, or compliance rules.

Examples of Who May Not Benefit

4. Sam Bankman-Fried was convicted in 2023 and sentenced to 25 years in prison.  The FTX founder was found guilty of fraud, conspiracy, and misuse of customer funds. Courts found that his actions were intentional and deceptive, so the order likely does not apply in his case.

5. Alex Mashinsky former Celsius CEO pleaded guilty to fraud and market manipulation and recently received a 12 year prison sentence for crypto fraud and knowingly misleading customers.  As a result, his case also likely falls outside the scope of the new enforcement policy.

Outlook

The new policy directive places the burden on agencies to prove intent before pursuing criminal charges.  The change may protect founders, operators, and teams from facing prison time over technical mistakes or unclear compliance rules in an ever evolving regulatory environment.

See:  Investing in the Future of AI and Blockchain

While the order does not affect past convictions, it may influence how courts and prosecutors handle ongoing investigations. It also gives legal teams a new foundation to challenge charges that lack clear evidence of intentional wrongdoing.


NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

Celsius Founder Sentenced to 12 Years for Crypto Fraud

Enforcement | May 9, 2025

Freepik Prison

Image: Freepik

Celsius Founder Alex Mashinsky Lied to Customers and Inflated His Company’s Token

Alex Mashinsky, Founder of the crypto lending platform Celsius, has been sentenced to 12 years in prison for defrauding customers and manipulating the price of his company’s digital token.

See:  Unveiling the Celsius and 3 Arrows Capital implosions

According to a press release issued May 8, 2025 from the U.S. Department of Justice, Mashinsky promised people their money would be safe and earn high rewards on Celsius. However, courts found that instead he used customer deposits to make risky bets and secretly boost the price CEL, Celsius’s own token. At the company’s peak, Celsius held about $25 billion in customer assets. When Celsius collapsed in July 2022, around 600,000 customers lost access to $4.7 billion worth of crypto. The sentence came from a U.S. court after Mashinsky admitted in December 2024 that he committed fraud and misled investors.

Jay Clatyon, U.S. Attorney said:

“Mashinsky made tens of millions of dollars while his customers lost billions... The rules against fraud still apply.”

As reported by Reuters, Mashinsky also said publicly that he wasn’t selling CEL tokens, but in fact he was and made about $48 million in profit from doing so.  Further, he took out $8 million of his own money just before the company blocked customer withdrawals. He told customers that Celsius was financially strong even that he knew it was failing.

See:  Celsius Creditors to Return Funds Withdrawn Pre-Bankruptcy

In addition to 12 years prison time, Mashinsky must pay a fine and give up his profits from the token sales.

Conclusion

Crypto companies must follow the same rules as everyone else. Misleading customers and manipulating markets has serious consequences. As more and more people engage with digital assets, trust and transparency is critical for the future of finance.


NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

Why Wealth Managers Shouldn’t Miss Consensus 2025

Consensus Toronto | May 9, 2025

Consensus 2025 Toronto May 14 16 Wealth Management Day

Toronto Becomes a Power Hub for Digital Asset Wealth Strategy at Consensus May 15

The financial world is changing fast, and Consensus 2025 Toronto is where proactive, leading advisors will be. On May 15, CoinDesk is hosting Wealth Management Day as part of its flagship conference at the Metro Toronto Convention Centre. It's a dedicated one day program specifically for professional wealth managers and financial advisors who want to understand how digital assets, tokenization, AI, and macro forces are changing investment portfolios now and in the future.

Approved advisors will receive a complimentary Platinum Pass, for full 3-day access to Consensus 2025 from May 14–16, including all general programming, high-level networking, and private meetings with industry leaders.

Expect Real Strategy, Not Hype

Wealth Management Day offers a full morning of advisor focused content followed by roundtable networking in the afternoon. Topics include:

  • The evolving role of Bitcoin and crypto in traditional portfolios
  • Market outlooks from leading macroeconomists
  • Tokenization of real world assets and its use in client products
  • Regulatory signals that impact what you can and can't recommend
  • Practical tools to future-proof client strategies

Speakers come from leading firms like Coinbase, T. Rowe Price, Evolve ETFs, CMCC Global, and Cambrian Asset Management. Government regulators and fintech founders will also join for candid conversations about what's happening today, what's coming next, and what advisors need to prepare for.

See:  Consensus 2025 Toronto | Spotlight on Canadian Speakers

Below are just a few of the speakers presenting on Wealth Management Day at Consensus on May 15:

  • John D’Agostino, Head of Strategy, Coinbase
  • Blue Macellari, Head of Digital Assets, T. Rowe Price
  • Elliot Johnson, CIO, Evolve ETFs
  • Dr. Ryan Clements, Alberta Securities Commission
  • Claire Van Wyk-Allan, Head of Canada, AIMA
  • Michael Bucella, Managing Partner, Neoclassic Capital
  • and many others across wealth, fintech, and policy.

Closing Thought

Globally and in Canada too, investors are looking for advisors who can offer informed, compliant, and proactive strategies and advice.  Wealth Management Day is where crypto and the investment ecosystem intersect, from startups to global firms, regulators to entrepreneurs.

See:  Join NCFA at Consensus 2025 Toronto May 14-16

For advisors, Wealth Management Day is a low risk, high reward way to plug in,  and it’s free for those who qualify.

"With ETFs and tokenized funds on the rise, advisors who ignore digital assets risk being left behind, not by the technology but by their clients who want to drive the future. "


NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

FCA Consultation on Crypto Regulatory Framework

Crypto Regulation | May 8, 2025

Freepik jcstudio, UK London

Image: Freepik/jcstudio

UK’s FCA Publishes New Rules to Regulate Crypto Platforms, Lending, Staking, and DeFi

The Financial Conduct Authority (FCA) just dropped Discussion Paper 25/1 'Regulating Cryptoasset Activities' (83 page PDF) for industry and stakeholder feedback, following the HM Treasury’s draft rules shared on April 29, 2025 that propose bringing crypto activities under the Financial Services and Markets Act. The FCA is now seeking feedback on how to regulate trading platforms, intermediaries, lending, staking, and decentralized finance. The discussion proposals look to reduce consumer harm, improve market fairness, and align with global standards.

Select Discussion Topics and Questions (see DP25/1)

1. Crypto platforms must be registered in the UK be risk neutral

Firms that run crypto trading platforms and serve UK retail customers will need FCA approval. Platforms will not be allowed to trade against their own customers. All trades must be handled through fair and consistent rules. The platform must stay neutral and cannot lend to customers or carry risk between buyers and sellers.

  • Should matched principal trading be allowed or does it create unfair conflicts?  That's where platforms act as the middle party in trades (see DPP25/1 Question 8)
  • What are the risks if a platform operator also trades for itself outside the platform?  Should this be allowed? (Question 9)
  • What are the risks if an affiliate of the platform is trading on or off the same platform? (Question 10)

2. Foreign market access through branches and UK subsidiaries

Foreign crypto platforms that want to serve UK customers must have a UK branch and/or a UK-based legal entity. The FCA is not extending the Overseas Persons Exclusion to crypto.

See:  UK FCA Plans Full Crypto Licensing Regime by 2026

  • What challenges do overseas firms face following UK trading and market abuse rules through their UK branches, and are there better ways to manage the risks? (Question 1)
  • What are the challenges of requiring both a branch and a legal entity? (Question 2)
  • What rules should apply when a foreign platform offers trading to UK retail customers via a UK branch? (Question 3)

3. Trading bots, algorithms, and direct retail access

Many retail investors use bots or automated strategies. The FCA wants platforms to take responsibility for monitoring this activity and managing any risks that come with it.

  • What extra rules should platforms take on when giving direct access to retail users? (Question 4)
  • How can platforms manage automated and algorithmic trading strategies by retail or professional traders? (Question 5)

4. Market makers and the need for formal oversight

Platforms often rely on market makers to provide liquidity. Some market makers are tied to the platform operator or its affiliates. The FCA wants stronger controls and greater transparency.

  • Should platforms be required to set up formal agreements with market makers? (Question 6)

5. Token listings and conflicts of interest

Some platforms be able to list tokens that they or their affiliates have issued. This can create conflicts of interest and make it harder to ensure fair trading. The FCA is considering rules that would separate the platform operator from the token issuer.

See:  UK’s Regulatory Crypto Roadmap from Sandbox to Mainstream

  • What are the risks when platforms list tokens they are financially connected to? (Question 11)

6. Credit and settlement must be handled carefully

The FCA says neutral platforms should not act as lenders or clearing houses; they should not extend credit or carry risk between users. However, platforms must still make sure that trades are settled safely and on time.

  • Should platforms be allowed to offer credit or act as settlement agents? (Question 12 and 13)
  • How should the concept of settlement be defined in crypto markets? (Question 14)

7. Transparency and record keeping

The FCA proposes clear rules on pre trade and post trade transparency. Platforms may be required to publish order book data and store transaction records for five years. This could include transactions by individual retail users.

See:  UK vs. Canada: A Tale of Two Different Crypto Consumers

  • Should any platforms be exempt from transparency rules? (Question 15)
  • What are the challenges of tracking trades involving retail customers? (Question 16)
  • What data standards should be used? (Question 17)
  • How can platforms coordinate on chain and off chain data records? (Question 18)

How to Respond and Outlook

The FCA is asking for feedback on discussion paper 25/1 by 13 June 2025.  You can respond by using the form on the FCA website or email:  dp25-1@fca.org.uk.  These ideas and subsequent discussions could influence regulators around the world. Canada’s fintech sector and policymakers should review how the proposed UK rules could affect global competitiveness, partnerships, and innovation pathways.


NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

Crypto Enters the Core of Canadian Payments

Payments | May 7 2025

Shakepay is Canada's First Crypto-native Firm to Enter National Payments Infrastructure

Canadian fintech just took a significant step forward.  On May 5, 2025, Shakepay Inc, a Montreal-based crypto platform and CIRO-regulated securities dealer announced that they are the first crypto-native company to officially join Payments Canada, an independent public-purpose organization that owns and operates Canada's core payment infrastructure under federal oversight including the systems that clear and settle over $120 trillion annually.

This move could open the door for deeper integration of digital assets into Canada's regulated financial system, which in turn could accelerate innovation, competition, and consumer access to key fintech services including crypto and digital assets more broadly.

Shakepay’s blog announcement:

"Not only are we joining an exclusive group of fintechs, but it marks a significant step towards bridging the gap between the crypto industry and traditional finance in Canada."

What it Means for Canadian Fintech

Shakepay’s access to the national payment infrastructure is about more than speed. It aligns with their vision to make 'bitcoin more accessible to Canadians', and as member they can work directly with banks, fintechs, and other financial institutions under the same rules and protections as traditional players.  This includes faster and more reliable fiat payment options to its customers, and access to the Real-Time Rail system when it's expected to rollout in 2026.

See:  Why Canadian Banks Are Fighting Open Banking

This is the same infrastructure that open banking will rely on, so it gives Shakepay critical access, aligning its services with evolving standards for instant payments, data access, and interoperability.

It also gives them a seat at the 'parents table',  allowing them to participate in key discussions, collaborate with key industry leaders, and bridge the gap between digital assets and traditional finance, while setting the stage for future participation in Canada's open banking framework.

Closing Thoughts

It does raise several questions though, such as will this move make it easier for other fintechs to gain access to the same payments infrastructure?  Will their ability to educate, advocate, and generate significant banking partnerships accelerate regulatory clarity for expanding crypto services in Canada?  Will this lead to a direct crypto to fiat payment service via the national payments infrastructure?

See:  UK Publishes Draft Rules for Crypto Regulation

While the answers will no doubt take time to emerge, the line between traditional financial institutions and digital asset platforms continues to blur.  And this is the first time that a crypto-native firm is running through the heart of Canada's payment system.


NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

New Hampshire First U.S. State to Legalize Bitcoin Reserve

Crypto Law | May 7, 2025

Freepik Bitcoin reserve

Image: Freepik

New Hampshire Sets Precedent with Bitcoin Reserve Legislation

On May 6, 2025, Governor Kelly Ayotte signed New Hampshire House Bill 302 into law, allowing the state treasury to invest up to 5% of surplus public funds in digital assets with a market cap over $500 billion, currently only Bitcoin qualifies.

Kelly Ayotte, Governor of New Hampshire posted on X:

"New Hampshire is once again First in the Nation!  Just signed a new law allowing our state to invest in cryptocurrency and precious metals."

The new law catapults New Hampshire to the forefront of state-level crypto adoption in North America, and is a breakthrough in what was becoming a stalling legislative trend.  For example, States like Arizona and Florida faced political pushback or abandoned similar efforts.

Highlights of HB 302

1. Only Bitcoin Qualifies Currently

“...any digital assets with a market capitalization of over $500 billion averaged over the previous calendar year…”

See:  National Bank Doubling Down on MicroStrategy’s Bitcoin Boom

This effectively excludes all altcoins including Ethereum unless they exceed the $500B threshold over a full year period.  It's a narrow scope but deliberate to reduce risk and focus on perceived stability.

2. Strict Custody Requirements

“Secure custody solution" must include:

  • End-to-end encryption
  • Keys cannot be stored or accessed by smartphones
  • Redundant secure data centers
  • Multi-party governance structure
  • Regular code audits and penetration testing

These detailed requirements reflect institutional-grade best practices (likely excluding retail options), and may raise the bar for custody providers targeting public entities.

3. Multi-Channel Investment Options

The state may invest in qualifying digital assets by direct holdings or qualified custodians or an exchange-traded product (ETP) registered by the U.S. Securities and Exchange Commission.

See:  GameStop Joins Growing List of Bitcoin Treasury Holders

This opens the door for investing in ETF style exposure to bitcoin which reduces the complexities of ownership, custody, and compliance.

4. Gold, Silver, and Platinum Also Included

“Precious metals” means silver, gold, or platinum coins, bullion, or other forms.  So, this isn't just a crypto reserve bill but also a hedge against fiat currency risk, and part of New Hampshire’s broader fiscal policy strategy.

5. Invest in Various Types of Funds

This means that will legislative approval, the state could invest in various types of qualifying funds.  It could be a General Fund, Revenue Stabilization Fund, or any other fund approved by the legislature, allowing for flexible portfolio construction over time.

Federal Government's Strategic Bitcoin Reserve

At the federal level, President Donald Trump signed an executive order on March 6, 2025, establishing a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile, which would be funded largely by seized Bitcoin in criminal and civil cases and to avoid and prevent taxpayer burden. The order also mandated a full audit of government-held digital assets and restricted any Bitcoin sales from the reserve.

Ethical Concerns  Over Trump's Personal Crypto Ventures

President Trump's involvement in personal cryptocurrency ventures has raised ethical questions of mixing political influence with personal financial gain.  In January 2025, Trump launched a memecoin $TRUMP and recently announced a 'pay to play' exclusive dinner for the top 220 holders of his memecoin, which has generated the owner of the memecoin (reportedly a large portion is owned by the Trumps) $320 million in fees, according to the Globe and Mail.

Read:  Will crypto lobbying tokens change political fundraising?

In response to the latest developments, Democrats Senators, Jeff Merkley and Chuck Schumer, introduced the End Crypto Corruption Act on May 6, 2025 by way of a press release, which aims to prevent U.S. federal officials and their immediate families from investing in, endorsing or financially benefiting from cryptocurrencies like memecoins.

Why It Matters

The varying approaches to crypto policy across different levels of U.S. government highlight the complexities and fast pace of change being considered, ever since Trump signed the digital assets and bitcoin reserve executive order.  For global policymakers including Canada, New Hampshire's model could set a precedent for integrating digital assets into public fund portfolios.  Surely, Vancouver's Mayor Ken Sim who has been a major advocate of a potential bitcoin reserve in Canada is following the impacts of this story closely.


NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter