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Will the Canadian $30K CAD Buy Limit Affect The Popularity of Bitcoin?

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Canada has recently imposed new regulations that affect the use of cryptocurrencies. Proponents fear this decision might lead to a decrease in the popularity of bitcoin and other virtual currencies.

However, it also appears this may be another way the government is trying to protect citizens, giving more credence to increase and not decline in ownership. This sentiment is indicated by the 13% reach of Canadian Bitcoin owners, in 2021.

The laws, which the Canadian Senate passed on June 1, 2022, put limitations on the purchase amount using credit cards and debit cards. People with a bank account in Canada can purchase up to $30,000 CAD worth of Bitcoins.

The Canadian Revenue Agency has clarified that Bitcoin is not a currency for tax purposes. It is considered a commodity, thereby falling under the tax regulations regarding commodities.

Therefore, Canadians can purchase an unlimited bitcoin with their credit card and spend it without being subject to any taxes or reporting obligations.

Nowadays, Bitcoin is becoming increasingly popular in Canadian markets. With the announcement of an official statement on the matter from Canada’s Central Bank, people wonder if it will constrain its use or even lead to less favourable terms for those working in other industries such as foreign exchange and banking.

In April 2014, the Canadian Senate made the first step towards regulating cryptocurrency when it published an Overview of Cryptocurrency Regulation Options. An official review was established on the 20th to assess the options and make suggestions.

In the last few months, three documents have been issued including a consultation paper, then later a second consultation paper, and the final report which outlines Bitcoin regulation in Canada. The Canadian government is currently struggling to regulate and tax cryptocurrencies like Bitcoin.

The government has just announced a new rule that will affect how Canadians buy or sell bitcoin. The new law states that it is not possible to buy or sell more than $30K CAD worth of cryptocurrency in a single transaction for any purpose, like playing on a bitcoin casino in Canada. It also means that people will only be allowed to buy up to $30K price of bitcoin in a single day. If you are interested in buying more, you will have to wait until the next day before
making another transaction.

It seems like this new rule is an attempt by the Canadian government to crack down on terrorist financing and money laundering, but it could also have some unintended consequences. The main one is that it may make people less likely to use cryptocurrencies.

The popularity of bitcoin has been dropping significantly over the past few months as governments around the world have started cracking down on cryptocurrencies because they are used by criminals to launder money and fund terrorist activities.

A report by Canada’s Financial Action Task Force (FATF) found that digital currencies have been used to finance terrorism, so it makes sense that the government wants to stop this from happening. However, there are other ways for terrorists to exchange money without using cryptocurrencies.

Bitcoin is a digital currency that allows people to make payments without using their names. It also offers anonymity, which has led to its popularity with people who want to avoid scrutiny from law enforcement or other agencies.

The Canadian government has limited how much you can buy in Bitcoin. The new law is meant to prevent money laundering and terrorist financing. But as a result, does this mean that the decision could hurt the future of cryptocurrency? In instances like these, only time will yield the results of the direction that this law has taken.

Todayville Content Team works with a wide variety of clients to develop compelling content solutions. Our experienced team develops strategic campaigns that use video and storytelling, digital advertising and social media to help our clients position and distinguish themselves in the market.

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Alberta

From Underdog to Top Broodmare

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WATCH From Underdog to Top Broodmare (video)

Executive Producers Jeff Robillard (Horse Racing Alberta) and Mike Little (Shinelight Entertainment)

What began as an underdog story became a legacy of excellence. Crackers Hot Shot didn’t just race — she paved the way for future generations, and in doing so became one of the most influential producers the province has known.

The extraordinary journey of Crackers Hot Shot — once overlooked, now revered — stands as one of Alberta’s finest success stories in harness racing and breeding.

Born in humble circumstances and initially considered rough around the edges, Crackers Hot Shot overcame long odds to carve out a career that would forever impact the province’s racing industry. From a “wild, unhandled filly” to Alberta’s “Horse of the Year” in 2013, to producing foals who carry her spirit and fortitude into future generations.

Her influence ripples through Alberta’s racing and breeding landscape: from how young stock are prepared, to the aspirations of local breeders who now look to “the mare that did it” as proof that world-class talent can emerge from Alberta’s paddocks.

“Crackers Hot Shot, she had a tough start. She wasn’t much to look at when we first got her” — Rod Starkewski

“Crackers Hot Shot was left on her own – Carl Archibald heard us talking, he said ‘I’ll go get her – I live by there’. I think it took him 3 days to dig her out of the snow. She was completely wild – then we just started working on her. She really needed some humans to work with her – and get to know that people are not scary.” — Jackie Starkewski

“Crackers Hot Shot would be one of the top broodmares in Albeta percentage wise if nothing else. Her foals hit the track – they’re looking for the winners circle every time.” — Connie Kolthammer

Visit thehorses.com to learn more about Alberta’s Horse Racing industry.

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Alberta Moves Toward Legal iGaming; Impact on Red Deer

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Alberta is the latest province in Canada looking to welcome a new regulated iGaming market. Regions like Ontario have already proved how successful the industry can become. It’s not just for the gambling industry itself but for the infrastructure and development it can foster through the astounding amounts of tax revenue it can bring in. According to Delasport, in 2024 alone, Ontario reported Gross Gambling Revenue (GGR) figures of CA$3.2 billion. The staggering amount also represented a year-on-year increase of over 30%.

Given the potential for much-needed tax revenue injections, Alberta now wants to follow suit, albeit via its own regulatory model. The notion of regulated iGaming in the province has long been debated and is now finally ready to go ahead. While there is much work to be done, authorities are optimistic that the move will be a rousing success.  

Early reactions point to the growing appetite for digital platforms that offer secure and convenient play. Industry observers often point to resources like an Esports Insider guide when discussing how online gaming continues to expand. Guides like these highlight safe and secure casino sites that locals can access and play on. The best sites provide a gold standard that Albertan sites should look to emulate. By offering expansive gaming libraries, together with generous player bonuses, fast payments, and adequate safeguards for players, these sites have become trusted members of the global industry.  

For local regions like Red Deer, legal iGaming could have a positive effect if handled properly. The tax revenue generated from the industry could go a long way toward helping a lot of locals. Programs like the Integrated Coordinated Access (ICA), which help connect people in need with appropriate social services, could be better provided for. Of course, the final regulations will dictate how many and which programs benefit from tax revenues. However, social causes like this are a good example of how tax revenues can be used to help as many people as possible.   

Local areas like Red Deer may also benefit through reinvestment. Infrastructure projects, community programs, or healthcare funding could all be supported by revenue streams that come from regulated play. While projections vary, the expectation is that even a small share of provincial income could create visible change at the municipal level. So long as the funds are allocated with appropriate oversight, the province as a whole would benefit greatly from iGaming revenue. The extra funding is needed more than ever in the wake of US tariffs and the realignment of global trade.  

Local businesses could also feel an indirect boost. With online platforms drawing more attention to gaming as a form of entertainment, cafes, bars, and sports lounges may see opportunities to host events tied to esports or watch parties. This type of cross-promotion has worked well in other regions where iGaming has become part of mainstream culture. Red Deer, with its active student population and lively arts scene, is well-positioned to adapt.

With gambling regulations often being harsh in other regions, there’s often pushback whenever the industry wants to gain a foothold in a new locality. While many look at societal issues, those who are pro-business are quick to point out that gambling represents huge inflows of revenue wherever it’s treated fairly by regulators. That kind of windfall simply can’t be ignored. In many ways, the gambling industry is treated differently, usually subjected to higher taxes than other industries to balance out any concerns that may exist.  

Technology also plays a major role in shaping this future. Faster internet connections, mobile devices, and secure payment tools have made it possible for online gaming to be part of everyday life. Players in Red Deer already use digital wallets for shopping, subscriptions, and travel bookings. Extending that convenience to entertainment feels like a natural step. The province’s move to regulate iGaming is less about introducing something entirely new and more about bringing order to a practice that already exists in the shadows.

Cultural attitudes also matter. Red Deer is a community that blends tradition with a growing openness to digital solutions. Events like esports tournaments and online streaming have already captured attention among younger residents. The addition of regulated iGaming could be viewed as part of this broader shift toward digital entertainment. As with music, film, and television, the move from physical venues to online access has reshaped how people engage with their favourite pastimes.

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