Canadian bitcoin enthusiast have a thing to celebrate as the
country’s finance minister Jim Flaherty singled out bitcoin by name un his
federal budget today, and announced forth coming laws that would regulate it.
To quote:
“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.
Not only bitcoin will obtain the regulation but also other
decentralized digital currencies. The budget went on to promise “anti-money
laundering and anti-terrorist financing regulations for virtual currencies,
such as Bitcoin.”
When such laws emerge, they will most likely be developed by
the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC),
which is the country’s financial intelligence unit, responsible for preventing
money laundering and other financial acts that could support terrorism.
More of this news here.
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