12 February 2014

Canada’s Finance Minister Prepares to Regulate Bitcoin

Signals are emerging that Canada is about to tighten its grip on bitcoin and other decentralized digital currencies. The country’s finance minister Jim Flaherty singled out bitcoin by name in his federal budget today, and announced forthcoming laws that would regulate it.



“It is important to continually improve Canada’s regime to address emerging risks, including virtual currencies, such as Bitcoin, that threaten Canada’s international leadership in the fight against money laundering and terrorist financing,” said Flaherty in the budget document.



The budget went on to promise “anti-money laundering and anti-terrorist financing regulations for virtual currencies, such as Bitcoin.”


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February 13, 2014 at 05:04AM