Canada has remained a peculiar regulatory alternative to the neighboring United States in regard to cryptocurrency. While its licensing process has become more stringent than in some countries, Canada was the first to approve direct crypto exchange-traded funds. State pension funds have invested in digital assets, and crypto mining firms have moved to the country to take advantage of the cool temperatures and cheap energy prices.
But the gold rush for miners in Canada may be slowing down. In early December, the province of Manitoba — rich in hydroelectric resources — enacted an 18-month moratorium on new mining projects.
A technician at a mining operation. Source: Paul Chiasson/The Canadian PressA relief map of Manitoba showing the significant water resources of the province. Source: Carport