26 Apr '13, 10pm

Canada tightens restrictions on Bitcoin trading, freezes accounts via @dailydot

This article originally appeared on The Daily Dot . In the United States, the difficult-to-trace digital currency Bitcoin is largely unregulated. Recently, the Treasury Department has issued some guidelines , though they remain rather broad. The regulatory environment in Canada, however, is rather more strict, as several Bitcoin entrepreneurs have found out. Bitcoin drew international attention through Cyprus’s banking emergency , its inclusion in the American financial regulatory framework , and increasing press coverage . The currency recently spiked to as high as $266 before crashing to a low of about $50, then rebounding to a post-crash high of $162. Canadians James Grant of Canadian Bitcoins and Melvin Ng of CADBitcoin both run Bitcoin exchanges, where users can convert Canadian dollars to bitcoins and vice versa. Both were contacted by banking authorities and told th...

Full article: http://www.salon.com/2013/04/26/canada_tightens_restricti...

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