Topic: 2013-05-20 theRegister- Canadian regulators welcome US Bitcoin refugees... - page 2. (Read 3110 times)

Quote from: cypherdoc on May 20, 2013, 03:48:49 PM

ummm, don't mean to be a skeptic but how can this be possible given that they've been shutting down exchanges bank accounts recently?

They (FINTRAC) didn't shutdown any exchange bank account. The bank did it all by themselves.

you're right. so does this mean those banks will be required to reinstate the accounts?

and will we thus see the return of those exchanges? which were shut down again? Cavirtex?

Virtex has had several accounts frozen but they are still operating and hold an open account with the Bank of Montreal I believe. I have an account with Virtex that I have never had trouble accessing or sending money to.

even now?

What is even more funny is that I still use bill pay via RBC the bank that closed their account. Grin

impulse

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Quote from: impulse on May 20, 2013, 03:48:00 PM

Quote from: 01BTC10 on May 20, 2013, 03:47:26 PM

ummm, don't mean to be a skeptic but how can this be possible given that they've been shutting down exchanges bank accounts recently?

They (FINTRAC) didn't shutdown any exchange bank account. The bank did it all by themselves.

you're right. so does this mean those banks will be required to reinstate the accounts?

and will we thus see the return of those exchanges? which were shut down again? Cavirtex?

Virtex has had several accounts frozen but they are still operating and hold an open account with the Bank of Montreal I believe. I have an account with Virtex that I have never had trouble accessing or sending money to.

even now?

Yep. Here is a list of their deposit options:

https://www.cavirtex.com/deposit_methods

I use the bill pay method because it is so convenient, takes a bit longer but it's free.

impulse

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I think most of the time the US don't get pressured by Canadian policy. It's mostly the other way. If the US don't like Bitcoin they will pressure Canada to follow their policy.

That's typically been true, but if the U.S. is something of a loner on this issue I don't think that the Canadian government would buckle so easily if there is growth potential and support from other nations.

cypherdoc

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Quote from: impulse on May 20, 2013, 03:48:00 PM

ummm, don't mean to be a skeptic but how can this be possible given that they've been shutting down exchanges bank accounts recently?

They (FINTRAC) didn't shutdown any exchange bank account. The bank did it all by themselves.

you're right. so does this mean those banks will be required to reinstate the accounts?

and will we thus see the return of those exchanges? which were shut down again? Cavirtex?

Virtex has had several accounts frozen but they are still operating and hold an open account with the Bank of Montreal I believe. I have an account with Virtex that I have never had trouble accessing or sending money to.

even now?

01BTC10

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ummm, don't mean to be a skeptic but how can this be possible given that they've been shutting down exchanges bank accounts recently?

They (FINTRAC) didn't shutdown any exchange bank account. The bank did it all by themselves.

you're right. so does this mean those banks will be required to reinstate the accounts?

and will we thus see the return of those exchanges? which were shut down again? Cavirtex?

No exchange has been shutdown, only their bank account but they switched to more Bitcoin friendly financial institution. Bank can accept or refuse whatever client they want and don't have to justify themselves.

impulse

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Quote from: impulse on May 20, 2013, 03:43:25 PM

ummm, don't mean to be a skeptic but how can this be possible given that they've been shutting down exchanges bank accounts recently?

They (FINTRAC) didn't shutdown any exchange bank account. The bank did it all by themselves.

you're right. so does this mean those banks will be required to reinstate the accounts?

and will we thus see the return of those exchanges? which were shut down again? Cavirtex?

Virtex has had several accounts frozen but they are still operating and hold an open account with the Bank of Montreal I believe. I have an account with Virtex that I have never had trouble accessing or sending money to.

01BTC10

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Hmm, interesting development if this holds true, and just when things were starting to look a little bit bleak in Canada regarding Bitcoin. The most interesting thing that could develop from this would be that it may put pressure on U.S. regulators to lighten up, or better yet, be proactive to ensure that Bitcoin based businesses in the U.S. are protected and competitive.

I think most of the time the US don't get pressured by Canadian policy. It's mostly the other way. If the US don't like Bitcoin they will pressure Canada to follow their policy.

cypherdoc

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