27 Apr '15, 3pm

Canada Takes a Careful, Community-driven Approach to Bitcoin Regulation

Canada Takes a Careful, Community-driven Approach to Bitcoin Regulation

Like many other countries, Canada has been wrestling with the issue of whether to regulate digital currencies and, if so, how and to what extent. In it’s February 2014 budget, the Canadian government introduced and passed amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act of 2000, aimed at digital currencies. But after more than a year, the amendments have yet to be published and “proclaimed” before they become law, a necessary last step. And a public consultation paper on the new financial regulations, promised for last summer, has yet to be released, causing some angst, but mostly relief in the Bitcoin community. “The Canadian government has taken a cautious approach to regulating digital currencies,” said digital currency regulations expert and Outlier CEO Amber Scott. “Instead of rushing in, they are looking at all the options and consid...

Full article: https://bitcoinmagazine.com/20170/canada-takes-careful-co...

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