🚀👀 “Crypto Chaos: Canada Caves (a Little)” 👀🚀
In a shocking turn of events that will no doubt be etched in the annals of history (or at least in a moderately interesting footnote), APX Lending, a crypto-backed loan company, has managed to wrestle a teensy bit of freedom from the Canadian Securities Administration (CSA). 🤹♂️
After an arduous 2-year slog, APX emerged victorious, gaining exemptive relief to offer crypto-backed loans without the traditional dealer registration or prospectus filings. Because, you know, who needs all that paperwork, eh? 📝😴
“We toiled tirelessly with the Ontario Securities Commission (OSC) to create a regulatory framework from scratch,” a spokesperson for APX revealed to CryptoMoon, “mainly because Canada didn’t have one. This exemption? Totally just for us, don’t get any ideas, other companies!” 🙅♂️
Currently, APX’s platform supports the dynamic duo of Bitcoin (BTC) and Ether (ETH) as collateral for loans in CAD or USD, with terms ranging from a brief 3 months to a whopping 5 years. Because, you know, planning for the future is so… human. 🤖
Andrei Poliakov, APX’s fearless leader, declared:
“By doing the regulatory tango with Canadian overlords, we’re setting a shiny new benchmark for compliance and security in crypto-backed lending. Yay, liquidity for all (who qualify)!” 🎉
APX loans come with a delightful 20%-60% loan-to-value (LTV) range, complete with an automated liquidation mechanism that’s just waiting to pounce at 90%… but only if you’re naughty and don’t top up or repay when warned at 80%. 🚨
Loan terms? Flexible. Unlike those stodgy traditional financial systems, which are about as adaptable as a stubborn mule. 🐴
APX Lending is FINTRAC-registered, because legitimacy. Its competitors, Ledn, Nexo, and YouHodler, are probably seething with envy right about now. 🤣
Canada’s Political Landscape: Where Crypto Goes to Get a Little Worried 😬
Enter newly elected Canadian Prime Minister Mark Carney, central banking’s favorite son, who once lambasted Bitcoin for its “serious deficiency” – namely, that pesky 21 million supply cap. 🙄
In 2018, Carney ominously declared: “Recreating a virtual global gold standard would be a criminal act of monetary amnesia.” Yikes, sounds like someone’s been sipping the fiat Kool-Aid! 🍹
Carney’s crypto-skepticism might just throw a wrench into Canada’s regulatory works, leaving the crypto industry to bite its nails in anticipation. But hey, at least he’s into “digital industries” and AI, so that’s a thing. 🤖👍
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2025-03-31 23:09