Aug 15, 2023

Coinbase is expanding its crypto services to Canada.

Video transcript

Canada is getting coin base pretty crazy. There's not a lot of major crypto exchanges in Canada, there's not even Venmo in Canada and now coin base is rolling out to Canada, our neighbors to the north. I gotta throw it to Jen. What's your thoughts on this one? Canada establishing a Canadian presence? I think. Interesting. Also, like we get a history corner. Will my my history corner you later, history corner of Canadian crypto exchanges kind of having their own issues in the past. But what do you, what do you think, Jen? Yeah, we'll go to Will for the Canadian history segment. So Coin Bank has been available to Canadian citizens. Um I have been able to fund my account through an interact visa card. So like a debit visa card, but it doesn't work with some banks. And so I'm curious to see if the Canadian banks are supporting the the funding or there are still some banks that are uh are not on board with, with crypto. So that will be interesting. I will test it out. I will let you know. Um but this is really exciting. So I just wanna, I think there are some people who think that we didn't have coin base before we have coin base. They are just officially launching. I think this is really interesting as we see um exchanges like Binance and a few others leave Canada saying that the regulatory environment is just too tough to navigate. And then we see coin base who's up against the SEC in the US saying Canada is actually the next biggest market for us and we're focusing here uh Before we pass it off to Will for History Corner, I really love that. As part of doing this official launch in Canada. Coinbase is investing in Canadian tech and developer talent. There's so much talent here in Canada that just leaves Canada eventually they, you know, work in the tech industry. They probably go to the University of Waterloo and then they decide to up and go to the US and I love that coin base is staying here. Don't, well, don't say it. OK, can I say there's some talent leaving Canada soon? I don't know. Ok, hold on, hold on. Well, maybe I did, I did a video on this yesterday and I actually read the announcement that Coinbase gave Coinbase is working very closely with banks and with regulators and a lot of different entities there to ensure they're doing everything 100% by the books. I also remember seeing something along the lines is that they feel very confident that if they can do things correctly in Canada, then they can showcase that to the US and other areas as well. So I think it's very bullish. I think it's very exciting for Canada because I don't even know what's going on with you guys anymore. You used to be able to use leverage in Canada and all of a sudden they took it away and then they had all this drama with the truckers and all the things and people and their money. So I think that this is good. Um I think that coin base is gonna do things as legally as possible. They have a lot of money. They've got a great legal team and I think if there is any type of regulatory issues um or any problem with them expanding to that market, they wouldn't have done it. And I just think I feel that Binance um is under a lot more heavy legal scrutiny just because everybody loves to hate c again, not saying that Binance is 100% good. I'm just simply saying if you follow the trails of media headlines, Binance was consistently attacked time and time again. So can I just say super super quickly, this has nothing to do with coin base but Canada, my parents, someone came to my parents' door the other day and like with a pamphlet that was like a fake $20 bill with information on CBD C and digital currency on the back and like told my parents. Yeah. Like, educating door to door with a physical pamphlet. I loved it. I have a question about that. Who were they? Like, what organization did they come from? I think they were against the Canadian government. I went to the website and it was just felt very, yeah. I mean, yeah, I don't know who they were. I'm not CBD C salesman.

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