Among the countries where there is a high level of crypto-friendliness and Bitcoin ATM installations, is Canada. Globally, the number of crypto ATMs has seen a considerable spike this year. 

The North American country Canada is steadily making efforts to increase access to digital finance for its residents. Therefore, the country has been on a mission to install Bitcoin Automated Teller Machines (ATMs) at many strategic locations. Data from CoinATMRadar showed that in 2022, the installation of Bitcoin ATMs in Canada has grown by over 18%. 

As of December 2021, the number of crypto ATMs in Canada was below 2,174. According to CoinATMRadar, a platform that tracks the growth of crypto ATMs globally, 2,578 Bitcoin ATMs are now available in Canada at the time of writing. 

Therefore, 403 crypto ATMs were installed so far in 2022, making Canada the second country with the highest number of crypto ATMs. It is worth noting that Bitcoin ATMs first landed in the north American country in December 2013 when it installed 3 of the digital machines. 

Meanwhile, in the United States, the growth of Bitcoin ATM installations has been extra impressive, given that a total of 33,841 have been installed in the country, as of November 10, 2022. Last year, the United States could only boast of 30,159 Bitcoin ATMs. 

Read Also: Bitcoin of America Incorporates Shiba Inu (SHIB) into Its Over 1,800 ATMs across 31 States in the U.S.

In places like Europe, Austria, the United Kingdom, and Switzerland, there is a mild presence of Bitcoin ATMs. As revealed by Coinatmradar, Europe has 1,477 crypto ATMs, Spain 217, Switzerland 142, and Austria 130, while the United Kingdom can only boast of 22 Bitcoin ATMs. Globally, the crypto ATM tracking platform showed that there are 38,801 Bitcoin ATMs, at the time of writing.

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Cardano (ADA), Solana (SOL), Polkadot (DOT), and GALA Listings

The licensed and regulatory compliant trading platform has continued to increase the number of digital assets it supports. This is in a bid to bring more investment options to its customers.

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Due to the underlying crypto regulations in Canada, Netcoins requested to update its restricted dealer license in late 2021. The approval of this request came in March 2022 from the authorities, giving rise to a wider offering of coins and tokens on the trading platform.

Three months after this development, Netcoins is pleased to enable trading for some of the top digital assets by market cap and adoption rate. In its fourth major rollout of coin additions, the online cryptocurrency brokerage that makes it easy for Canadians to buy and sell crypto assets, onboarded Cardano (ADA), Solana (SOL), Polkadot (DOT), and the Gala games token, GALA.

With this recent tokens listing, the fully regulated and licensed money services business (MSB), Netcoins now supports a total of 36 cryptocurrencies on its platform. In a wider perspective, among the legal and regulated crypto trading platforms in Canada, Netcoins ranks third based on the most coins listed.

Other crypto tokens that can be bought in Canada via the platform include Shiba Inu (SHIB), Dogecoin (DOGE), Ripple (XRP), Bitcoin (BTC), Ethereum (ETH), etc.

Related:  You Can Now Trade Chainlink (LINK) on the Robinhood Platform

About Netcoins

Interestingly, Netcoins started as a virtual Bitcoin ATM solution provider in 2014 but later evolved into a cryptocurrency trading platform. Today, users can trade over 35 cryptocurrencies via Netcoins’ Web and Mobile applications.

The trading platform, Netcoins, is owned by the publicly traded BIGG Digital Assets. Being public, it is said to offer an extra layer of safety and transparency to users. Therefore, Netcoins leverages blockchain analytic and forensic tools BitRank and QLUE to guarantee users’ safety of assets.

According to Netcoins, the online brokerage is a registered Money Service Business (MSB) with FINTRAC. In addition, it is fully regulated and registered with the Canadian Securities Administrators (CSA) and BCSC.

In the words of Netcoins’ CEO, Mark Binns, the platform is excited to launch two more of the top 10 coins globally by market cap, ADA and SOL, along with DOT.

These coins recently became available to Netcoins for listing under a regulated environment. We believe strongly that moving in lock step with regulation, and our customer’s safety and best interests, is the path to long-term growth and success. We welcome the traders and HODLers of ADA, SOL, DOT, and GALA to Netcoins,” he added.

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Ripple’s Engineering Hub To Drive Crypto and Blockchain Innovation

To bolster its continued growth in the region of North America, Ripple has taken its branch to the Canadian city. For the time being, the company is set to hire only 50 blockchain engineers in the dynamic metropolis.

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Subsequently, Ripple intends to employ the services of hundreds of blockchain software engineers including applied machine learning scientists, data scientists, and product managers across the globe.

Primarily, the blockchain firm seeks to discover and onboard engineering talents in the region, leveraging their skills to innovate, build and proffer lasting crypto solutions to customers.

Interesting, the Mayor of Toronto, John Tory is excited about the move by Ripple as indicated in his statements;

“I’m thrilled that Ripple is putting down roots in Toronto where we know the company will be able to benefit from the highly skilled technical talent, booming ecosystem, and competitive economic advantages the Region offers.”

“Ripple’s globally-renowned, innovative technology, and first-mover attitude will be a perfect fit for the diverse, entrepreneurial, and committed spirit of Toronto.”

Don’t Miss: Former Ripple Executive Believes XRP Can Hit $100 in the Long Run. Here’s His Major Point

From a wider perspective, this development by Ripple (XRP) has stood the company out among many other crypto firms. The current turbulence in the crypto markets has compelled many crypto companies to initiate layoffs and a pause on new hirings. In contrast, Ripple is seen to be onboarding more hands on deck, regardless of the bearish cryptocurrency sentiments.

Ultimately, it is clear that Ripple’s key priority is to bring on world-class talents into its ecosystem. Accordingly, they will help birth blockchain inventions and solutions, for the actualization of improved and satisfactory customer service, in the future years.

According to Devraj Varadhan, Ripple’s SVP of Engineering;

“At Ripple, we are a team of missionaries building breakthrough crypto solutions to unlock greater economic opportunities for everyone, everywhere, and that creates an exciting atmosphere.”

“We are excited to tap into Toronto’s technical talent pool and add builders to address the unmet customer needs on behalf of global customers – our teams here will play a key role in driving Ripple’s innovations, ranging from blockchain protocol development and decentralized applications to machine learning and payment solutions,” She added.

Related: Lotus Cars Partners with Ripple and NFT PRO to Launch Automotive NFTs on the XRP Ledger (XRPL)

Ripple (XRP): Increasing Expansion 

Ripple (XRP) continues to open new offices in key cities as it is focused on scaling and expanding its reach. In 2021, the company started up its offices in Miami and Dublin.

Per the announcement, the opening of the Toronto office further solidifies Ripple’s commitment to an already existing technology center. Ripple (XRP) intends to tap into Toronto’s local talent pool to recruit blockchain engineers toward fostering crypto innovation in the capital city.

“We are continuing to scale and invest in our business by expanding our presence globally with our first office in Toronto,” says Brad Garlinghouse, CEO of Ripple (XRP).

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The crypto exchange has been sending notices to its customers in the affected countries, stating that the change will take effect in early April.

Read Also: Malaysia Comms Ministry Tells Parliament to Adopt Cryptos like Bitcoin as Legal Tender to Engage the Youth

A user who shared the information on Twitter wrote, “Wait, then what’s the point of crypto/blockchain, being outside of fin.system and all.. I may be better of sending fiat money crypto freaks may not realise but the market is getting extremely regulated.”

Wait, then what’s the point of crypto/blockchain, being outside of fin.system and all.. I may be better of sending fiat money crypto freaks may not realise but the market is getting extremely regulated. #Coinbase #fail pic.twitter.com/PQ9Z5kQyNs

— Eurasianomics (@eurasianomics) March 25, 2022

As expected, the move has been greeted with tons of backlashes from Coinbase users. Many believe that this will force tons of users to abandon the heavily centralized exchange.

According to a FAQ made available by the crypto exchange, for Canadian users, sending more than 1000 CAD worth $798 in crypto to a financial entity or other crypto exchange will require the name and address of the recipient. This will be effective from 4th April, citing compliance to Canada’s FINTRAC rules.

Read Also: Canada Would Become the Crypto Power House with This Newly Introduced Crypto Bill

For users in Singapore, all crypto transfers from a user’s wallet to an outside address will require the recipient’s full name and country of residence. This will be effective from 1st April 2022, citing local Singaporean regulations.

As for Japan, all transfers of digital assets to recipients outside the country must include the name, address, and destination wallet of the recipient, citing rules established by the Japan Crypto Trading Association (JVCEA). This will also be effective from 1st April 2022.

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Canada Progressing in Crypto Adoption

Michelle Rempel Garner, a member of the Canadian House of Commons, proposed Bill C-249, to encourage the growth of the crypto industry in Canada.

The bill reads in part as follows:

“This enactment requires the Minister of Finance to develop a national framework to encourage the growth of the crypto asset sector and, in developing the framework, to consult with persons working in the sector who are designated by provinces and territories. The enactment also provides for reporting requirements in relation to the framework.”

Michelle Rempel Garner, who introduced the crypto bill, was a student of economics and has been a member of the House for more than ten years.

Miss Garner took to Twitter at the end of last year to ask for suggestions on what the government could do to enhance the growth of the crypto industry.

For Canada to be well-positioned in the crypto industry, she believes that the counsel of industry leaders will go a long way.

How Crypto Community Is Reacting To the Notable Move

The policy is widely seen as a notable move to further push for crypto adoption in Canada. Hut8, one of the largest crypto miners on the continent, is excited about the move.

Jaime Leverton, CEO of Hut8 believes that the crypto industry will thrive in Canada will such a significant policy.

Jaime Leverton noted:

“Decision makers are increasingly aware of the incredible opportunities for growth and job creation within our sector and recognize the value in working with industry leaders to make Canada the destination for 21st-century innovators.”

Russia Moves to Recognize Crypto Assets as a Form of Currency

Russia is also planning to use regulation to establish the crypto industry in the country, rather than enacting a blanket ban.

It all started sometime in late January 2022, after the Central Bank of Russia published a proposal for an outright ban of crypto-related activities in the country. The country’s Ministry of Finance and other highly respected personalities in the country kicked against the proposal.

The issue was swiftly revolved after President Vladimir Putin’s intervention. Authorities in Russia are now set to recognize crypto assets as a form of money.

According to the report, the government and the Bank of Russia have reached a consensus on how to regulate crypto space in the country.

The report says, “The government and the Bank of Russia have agreed on a future regime for the circulation of cryptocurrencies in Russia: before February 18, they will prepare a draft law on the circulation of digital currencies in the Russian Federation, in which cryptocurrencies are recognized as an analogue of currencies, and not digital financial assets…”

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