The Bank of Canada took a significant step in exploring the technical feasibility of a digital Canadian dollar, proposing a specific system designed for a retail central bank digital currency (CBDC) focused on simple, everyday payments, according to a new research paper.

The central bank’s research team examined OpenCBDC 2PC, a model developed in collaboration with the Massachusetts Institute of Technology’s Digital Currency Initiative. This design prioritizes privacy, speed and decentralization by allowing users to hold digital funds directly, much like digital cash.

The new research comes after the Bank of Canada said it is shifting its focus away from a retail CBDC last year, saying that it was prepared if the people of the nation decide such a product is needed in the future.

Privacy issues

A major focus of the report is privacy, which isn’t a big surprise because CBDCs have sparked debate around the world, in part on concerns they could enable state surveillance of financial activity. Unlike cash, which is anonymous, a CBDC could theoretically allow a central authority to track every transaction.

The report suggested that the system separates personal identity from transaction data, allowing non-registered users to hold funds in self-custodied wallets. The users could then transact without sharing their identity with a bank or payment processor. Even for registered users, the central bank would not have access to identifying information or transaction histories.

The report goes further, proposing enhanced protection by potentially using cryptographic techniques such as zero-knowledge proofs to obscure transaction amounts from the core infrastructure. These features collectively offer a level of privacy that the authors say could exceed that of current electronic payment systems.

Bitcoin-like structure

In contrast to traditional banking systems, where money is stored in user accounts, the report suggests a design that uses “unspent transaction outputs” (UTXOs) — a structure more commonly associated with Bitcoin.

The system processes transactions in two steps: updating a core ledger and transferring funds from one user’s wallet to another. This approach supports real-time settlement and offers a higher degree of privacy from both banks and government institutions.

Challenges

While the report lays out a detailed technical solution to a potential digital Canadian dollar, it also identifies potential hurdles.

One of the main hurdles is that integrating the proposed architecture with existing retail payment infrastructure could require substantial technical upgrades, including in the way point-of-sale terminals handle digital cash-like transfers.

Additionally, while the system is scalable in theory, performance dips during audits and system recovery operations need further engineering work to meet production-grade standards.

The paper clearly states that this is not a commitment to launch a CBDC. However, the findings lay out a concrete technical foundation for what such a system could look like— one that balances user privacy, institutional control, and operational resilience.

Whether the central bank will implement it remains a question, given the controversy surrounding CBDC. However, the timing of the report could be right as Canada’s new prime minister, Mark Carney, was quoted in his 2021 book as a supporter of CBDCs.

“The most likely future of money is a central bank stablecoin, known as a central bank digital currency or CBDC,” he wrote in his book.

Esports has emerged as a multi-billion-dollar industry worldwide, parallel to the growth in mobile gaming, and Canada is certainly not falling behind. The number of Canadian viewers on Twitch is increasing dramatically alongside the Canadian Overwatch League viewership. Canadian esports journalists are now trying to capture the public’s attention through mobile applications affiliated with traditional sports channels. With the increasing embrace of esports, most conventional broadcasters attempt to skip over the basics and go straight to testing live tournament coverage, worsening the media rights deals begun by publishers.

What is peculiar about Canada is the speed at which supporters are shifting from watching on a television or desktop computer to mobile devices. It is not the sole reason for convenience that drives the shift from conventional to mobile-first experiences, but the opportunity to interact, engage, and customize the content. Esports is actually consumed on smartphones and tablets. In Canada, esports events are no longer passively watched; they are experienced with creator voice, in-game statistics, and level social engagement tools ubiquitous in the industry.

Metrics, Mobility, and Monetization

This has also created a direct link between esports and online gambling. Football betting audiences are increasingly interested in the real-time data being streamed for esports competitions. These users, in turn, interact with the overlays that predict how the match, players, and even the customers will perform and provide amusement. Audience behavior around games with clearer interfaces and easier interaction, such as the Plinko demo, serves as a benchmark for the gamification trend influencing esports spectatorship and other entertainment forms. The role of viewing as an audience shifts dramatically, and so do micro-transactions, quick decision games, and user-driven outcomes that are pivotal to engagement strategy.

Viewing Preference and Engagement Behavior

In Canada, understanding the esports audience reveals that analyzing them as a single unit is not effective.

Top 5 Engagement Behaviors:

• Using secondary screens during streams (Discord chats, Twitter/X/X  comments)

• Watching creator streams instead of official broadcasts

• Wagering on live outcomes of matches (aggregate stats per round or by player)

• Participation in giveaways and fan quests associated with the creator

• Taking part in co-viewing rooms and community tournaments

This also emphasizes the importance of mobile-optimized design elements. Alerts, swiping menus, and touch-to-click options fundamentally impact user session duration and frequency of returning to a given channel.

Streaming Platforms by Usage in Canada (2024 Data)

Rise of the Creator Economy in Canadian Esports

The growth of esports in Canada can hardly be discussed without mentioning the ramifications of content creators’ influence. Arguably, local streamers, casters, and analysts have contributed the most as Canadian voices in esports. Canadian talent is now more accessible than ever thanks to TikTok, Instagram Live, and Kick.

A lot has changed now – fans do not simply consume content passively. They actively follow creators who offer real-time commentary and strategies. Look at the example of Canadian streamer “MapleStrats.” He provided live analysis and Q&A during the playoffs of the 2025 Valorant Challengers North America and more than doubled his follower count. In this light, platforms such as Melbet download are gaining new popularity. They apply the same logic – active participation by users, immediate feedback, and gamified attention-capturing elements during endless streaming days or months of complicated tournaments. The ability to voice opinions by voting, prediction brackets, and unlocking bonuses while watching a match in real time are elements of excellent gaming and casino crossover platforms.

Infrastructure and Institutional Support

There is more investment on the university and government side as well. Both Ontario and British Columbia have funded esports facilities at public universities, which combine gaming and media production. Varsity esports leagues are already being piloted to identify future professional players and streamers.

The Canadian Collegiate Esports League (CCEL) has notably widened its scope in 2025 to include broadcasting scholarships and analytics internships. The aim is to professionalize esports, from players to production, at all levels, so Canada can maintain competitiveness internationally.

Looking Ahead: A Change That’s Here to Stay

The change in viewership on mobile devices, as well as the shift to mobile-centric creators taking the focal point, indicates a swiftly evolving dynamic for esports in Canada. Esports in Canada serves as a template for the wider narrative around sports broadcasting. There has been a shift from observing teams and titles to data-driven entertainment alongside smart devices, turning what was considered a niche into mainstream.

Regulators in the United States, Russia, and Canada shared updates that could influence their approach to cryptocurrency oversight.

SEC Roundtable to Explore Custody and Crypto Regulation

The U.S. Securities and Exchange Commission (SEC) unveiled the full agenda and panel lineup for its upcoming crypto roundtable, scheduled for April 25.

The event signals a deepening institutional focus on crypto regulation, particularly around asset custody standards and investor protections.

The roundtable will be split into two key sessions: “Custody Through Broker-Dealers and Beyond” and “Investment Adviser and Investment Company Custody.”

These topics address how custodians of crypto assets should be regulated under U.S. securities laws.

Zach Zweihorn, a partner at Davis Polk & Wardwell LLP, will moderate the discussions.

The roundtable will begin with opening remarks from Richard Gabbert, Chief of Staff for the SEC’s Crypto Task Force, along with senior SEC figures including Acting Chairman Mark Uyeda, Commissioner Caroline Crenshaw, and Commissioner Hester Peirce.

The discussions are expected to influence future SEC guidance on custody rules, especially as crypto continues to blend with traditional finance through broker-dealer models and investment advisers.

Russia Urged to Build Homegrown Stablecoins

A senior Russian finance official called for the development of domestic stablecoins following a clampdown on USDT wallets linked to the country.

The statement follows U.S.-based stablecoin issuer Tether freezing several wallets associated with Russian users, causing disruptions in cross-border digital payments.

Osman Kabaloev, deputy head of the Financial Policy Department at Russia’s Finance Ministry, said the incident showed the risks of relying on foreign-issued tokens.

Speaking to reporters on Wednesday, Kabaloev emphasized the need for Russia to build its own stablecoin infrastructure to maintain financial sovereignty and reduce external dependencies.

The comments reflect Russia’s broader efforts to circumvent Western sanctions through alternative financial channels, with stablecoins and central bank digital currencies (CBDCs) playing an essential role in that strategy

This pivot toward sovereign digital tools could reshape the country’s approach to crypto regulation in the years ahead.

Senate Proposal Adds Environmental Layer to Crypto Regulation

Meanwhile, environmental concerns surrounding cryptocurrency mining have prompted new legislative action in the U.S. Senate.

Senators Sheldon Whitehouse and John Fetterman introduced the “Clean Cloud Act of 2025” last week, a bill aimed at reducing emissions from crypto mining and data center operations.

The proposed law would fine mining facilities that continue to use non-renewable energy sources beyond 2035.

Additionally, it requires facilities consuming more than 100 kilowatts of power to report energy usage, electricity sources, and emissions data annually.

“There is a lack of transparency regarding the energy sources used to power domestic crypto mining and many data center operations,” the draft legislation states.

If passed, the bill would alter the cost structures and operational models of crypto mining firms in the United States, pushing them toward cleaner energy sources or out of the country altogether.

Canada Leads with Solana ETFs

North of the border, Canada approved North America’s first spot Solana exchange‑traded funds (ETFs) that incorporate staking.

These ETFs will include staking capabilities, a feature that allows investors to earn rewards by locking up their tokens to support blockchain operations.

The Ontario Securities Commission (OSC) approved four issuers—Purpose Investments, Evolve ETFs, CI Financial, and 3iQ—to list Solana ETFs, with trading set to begin on April 16.

The funds will hold physical Solana (SOL) and offer staking, making them a rare blend of passive investment and yield-generating blockchain participation.

The decision may encourage additional crypto‑based investment products in traditional markets and reinforces Canada’s proactive stance on crypto oversight.

Crypto Regulation Tightens as Global Oversight Expands

The idea that crypto exists outside the system has become harder to defend. Canada’s ETF approvals reflect financial normalization.

The SEC’s custody talks show traditional regulators are no longer avoiding digital assets. And in Russia, token infrastructure is being treated as a matter of national security.

Crypto’s next chapter won’t be defined by innovation alone—it will depend on who sets the rules, how they’re enforced, and how global approaches to crypto regulation evolve from here.

The post Weekly Crypto Regulation News Roundup: SEC Sets Roundtable, Russia Eyes Stablecoins, and Canada Approves Solana ETFs appeared first on Cryptonews.

We look forward to announce that Kraken has officially acquired a restricted dealer registration in Canada. We are adhering to the enhanced crypto exchange investor protection guidance while reaffirming our commitment to serving Canadian crypto investors.

We also look forward to welcoming Cynthia Delpozo as North America’s new general manager. Cynthia will lead Kraken’s next stage of growth across Canada and strengthen regulatory, political and commercial relations as she continues to expand its presence across North America.

To celebrate this new chapter and reaffirm our commitment to Canada; We currently offer free interaxial deposits to all Canadian clientspromotes efforts to make crypto investments more accessible, affordable and seamless.

Compliance milestone year

This achievement represents the culmination of a rigorous pre-registration business (PRU) process. Meanwhile, Kraken has consistently strengthened its governance, security and compliance protocols to meet the highest industry standards.

As a result, our Canadian clients, under the supervision of the Ontario Securities Commission (OSC), have now benefited from a solid regulatory foundation, ensuring access to some of the most innovative and secure cryptographic products in our local ecosystem.

Introducing the new Canadian GM

He welcomed Cynthia Delpozo to lead the Canadian business. With nearly 15 years of experience in corporate development, operations and fintech consulting, Cynthia is extremely well equipped to lead Kraken’s expansion and involvement across Canada at this pivotal time for the evolution of crypto.

“Canada is at a turning point in crypto adoption, and there are growing numbers of investors and institutions who recognize digital assets as a key part of their financial future. We are excited to join Kraken’s mission at this critical moment, lead our expansion efforts, and continue to serve our clients in the long term with innovative and compliant products,” says Del Pozo.

Kraken’s continued growth in Canada

Over the past two years, Kraken’s Canadian business has grown exponentially, strengthening its long-term commitment to the market and its clients.

• Doubled both team size and monthly trading users during the PRU process
• Over $2 billion CAD in combined client assets in detention
• We expanded support for many popular crypto assets, provided several CAD spot trading pairs, allowing Canadians to trade crypto without paying expensive FX fees.
• Set yourself up to unlock institutional demand for high quality crypto products and services

Del Pozo continues. “This restricted dealer registration is a testament to Hiber, where Kraken has always set up consumer protection, client services and robust security. We are excited to continue expanding our world-class investment platform and bring innovative products that provide real-world utility to Canadians.”

Canada’s role in the adoption of crypto and the future path

Canada has played a pioneering role in global crypto adoption.

• A public Bitcoin ATM will be installed in downtown Vancouver
• Launch Spot Bitcoin and Ethereum ETF in 2021

Crypto adoption is accelerating in Canada, renewing its long-term trust in crypto asset classes.

With clarity in regulations secured, new leaders at the helm and expanding the expansion of innovative crypto products, Kraken is well positioned to shape the future of Canada’s digital finance.

Sign up for today’s account and get started with Kraken.