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Alberta

Alberta investors now have more options for securing cryptocurrency and other digital assets.

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Bringing balance to Alberta’s financial system

Balance Trust Company has officially been registered as an Alberta-based trust corporation under the Loan and Trust Corporations Act.

On Oct. 17, Alberta’s government issued the company its certificate of registration, enabling it to offer cryptocurrency and other digital asset custodial services to investors in Alberta and other authorized jurisdictions.

“We are proud to support innovative companies like Balance Trust Company. With its registration, Alberta strengthens its position as a leader in the finance and financial technology sector. Our commitment to the sector’s growth keeps us at the forefront of financial innovation, boosts our economy and provides greater security for investors.”

Nate Horner, President of Treasury Board and Minister of Finance

Balance Trust Company leveraged Alberta’s financial services concierge, a service designed to guide financial services and fintech companies through the province’s regulatory landscape. Alberta’s government established the financial services concierge and regulatory sandbox to help companies set up shop in Alberta.

With Canada’s digital asset market continuing to grow, the presence of more licensed custodians reduces Canadian investors’ reliance on foreign entities, enhancing compliance and control over their investments. Balance Trust Company’s presence in Alberta will promote healthy competition, attract further investment and reinforce the province’s reputation as a hub for financial innovation.

“Since 2021, public fund managers and restricted dealers have sent more than $5 billion worth of investor assets to the U.S. due to the lack of local custodians. It’s time to bring them back, and I can’t think of a better home for those assets than Alberta. We’re grateful to Minister Horner and the entire team at the Alberta Treasury Board and Finance for recognizing the criticality of this task and for enabling us to bring this much-needed infrastructure to our local ecosystem.”

George Bordianu, president and CEO of Balance

Quick facts

  • Balance Trust Company is a subsidiary of Balance, Canada’s oldest and largest digital asset custodian.
  • Balance Trust Company is Alberta’s second registered digital asset custodian, after Tetra Trust which was registered in 2021.
  • Balance Trust Company is the only custodian with a proprietary technology platform developed entirely in-house through more than seven years of continuous research and development.

Alberta

Premier Smith hammers Liberal government for ‘slightly’ reducing immigration

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As so often happens these days the headlines from major news outlets all look like they were written by the same people.  All the major news outlets repeated the government talking point that immigration would be reduced significantly.  In his news release, Immigration Minister Marc Miller spoke of “controlled targets” and even “marginal” declines in Canada’s population. Minister Miller made it sound like the feds are pulling way back on the number of immigrants being allowed into the country.

A few hours later, Premier Danielle Smith explained how Alberta sees things.  According to Premier Smith, immigrants will still be pouring into the country at near record levels.  Smith says this new immigration plan will offer almost no relief whatsoever to provinces buckling under the pressure of so many newcomers.

Premier Smith is right.  When you take out all the adjectives and the self back-patting, the 2025 – 2027 Immigration Levels Plan shows the number of new immigrants will still hover near record levels.

From the 2025–2027 Immigration Levels Plan.

The levels plan includes controlled targets for temporary residents, specifically international students and foreign workers, as well as for permanent residents.

We are:

  • reducing from 500,000 permanent residents to 395,000 in 2025
  • reducing from 500,000 permanent residents to 380,000 in 2026
  • setting a target of 365,000 permanent residents in 2027

Quick facts:

  • Canada’s population has grown in recent years, reaching 41 million in April 2024. Immigration accounted for almost 98% of this growth in 2023, 60% of which can be attributed to temporary residents.
  • Francophone immigration will represent
    • 8.5% in 2025
    • 9.5% in 2026
    • 10% in 2027

The Levels Plan also supports efforts to reduce temporary resident volumes to 5% of Canada’s population by the end of 2026.  Canada’s temporary population will decrease over the next few years as significantly more temporary residents will transition to being permanent residents or leave Canada compared to new ones arriving. Specifically, compared to each previous year, we will see Canada’s temporary population decline by

  • 445,901 in 2025
  • 445,662 in 2026
  • a modest increase of 17,439 in 2027

It’s interesting how the feds explain the situation with “temporary residents”.  This group includes foreign students and temporary workers.  Most Canadians would probably be shocked to know just how many people are “temporarily” here.

Minister Miller says this population will decline by 445,901 people in 2025.  What he leaves out is that this still allows for just over 2,000,000 foreign students and temporary workers! (5% of 41,000,000 Canadians is 2,050,000)

It’s also very interesting that in the explanation for how the feds plan to cut the number of temporary residents down from about 2.6 million to just over 2 million, is by recognizing that many of the temporary residents will transition to being permanent residents.  It’s not clear how that will reduce the number of people in the country.  I guess we’ll have to see how that all turns out.

Meanwhile Alberta Premier Danelle Smith and Minister of Immigration and Multiculturalism Muhammad Yaseen issued this joint statement on today’s federal government immigration announcement:

“Alberta has a long history of welcoming newcomers, and we plan to maintain that reputation.

“However, the federal government’s reckless and irresponsible open-border immigration policies, permitting almost 2 million newcomers to enter Canada last year alone, have led to unsustainable financial pressures on all provinces.

“With the cost of food, energy, housing and everything else in this country increasing, and with tens of thousands of new people moving to Alberta monthly, our hospitals and schools are at or above capacity.

“As a province, we need a reprieve from this explosive population growth so we can catch up with these pressures. So do all provinces.

“The federal government’s plan to cut a mere 105,000 new permanent residents will not solve these pressures when they are bringing in almost 2 million additional people annually.

“We call on the government to cut the number of newcomers to Canada from almost 2 million to well under 500,000 annually until further notice.

“Ottawa’s priority should be on reducing the number of temporary foreign workers, international students and asylum seekers—not on reducing provincially selected economic migrants.”

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Alberta

Alberta Bill of Rights amendments will allow individuals like Jordan Peterson to speak freely

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Alberta’s government considers legislative changes to safeguard freedom of expression for regulated professionals.

In response to increasing concerns that regulated professional bodies may be going too far in limiting individual freedom of expression and imposing compulsory training beyond the scope of their professional practice, Alberta’s government is launching an engagement this fall that will include hearing directly from affected members.

As part of the province’s commitment to protecting the civil liberties of all Albertans, the government is considering legislative changes to clarify that professional regulatory bodies are limited to regulating members’ professional competence and behaviour. The engagement will ensure that professional regulatory bodies uphold the rights and freedoms of their members, and that Albertans can share their experiences and opinions.

“Freedom of expression is a bedrock in a democratic society. We’re committed to standing up for Albertans’ freedom and that includes ensuring Albertans are not coerced into self-censorship because of threats from their professional regulated bodies. Organizations that regulate professionals must strike a balance that upholds competence and ethics without restricting members’ rights and freedoms and we are working to ensure that balance is met.”

Danielle Smith, Premier

“We have heard from professionals receiving complaints from regulators, and in some cases facing actual disciplinary action for expressing personal beliefs and opinions unrelated to their professional competencies. This situation could result in self-censorship and infringe on their ability to speak and express opinions freely. We are initiating this review to ensure members’ rights and freedoms are protected.”

Mickey Amery, Minister of Justice and Attorney General

Eleven ministries with regulated professions in scope for this review will collect information and engage with professional regulatory bodies and other relevant groups as needed to inform policy decision-making.

The review will be informed by input from professional regulatory bodies, regulated professionals and other organizations, associations or experts. These groups will be invited to share their views on whether regulatory oversight goes beyond professional competence and ethics in areas such as freedom of expression and opinion, training not related to professional competence, vexatious and bad faith complaints, third-party complaints and protection for those holding other roles in addition to their role as a regulated professional.

Quick facts

  • Professional regulatory bodies protect the public interest by setting standards of competence and conduct for their members and disciplining those who fail to meet them.
  • The right to freedom of expression is protected under Section 2(b) of the Charter of Rights and Freedoms.
  • The review will include 118 regulated professional bodies under the mandates of 11 ministries.
    • These 118 professions and trades are governed by 67 different regulatory bodies. This number includes some provincial government ministries that directly regulate professions.
  • Each ministry did an inventory of the regulated professions under their mandates and determined which should be included in the review. Professions may be excluded from the review if:
    • They are not self-regulating.
    • Regulation for the profession is not yet in force.
    • There is no regulatory body or means to handle public complaints or disciplinary action against any member.
    • There is little or no regulatory role beyond certification.

Related information

 

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