These laws seem to only affect the movement of dollar in Bitcoin businesses.
I say, good news.
Topic: Canada implements world’s first national Bitcoin law (Read 2067 times)
Hum.. goodish news it seems. I am Canadian so this effects me.
I think this is definitely a good thing. Regulation like this is necessary and will help bitcoin become more of a currency rather than a speculative commodity for tech geeks (like me lol)
http://www.duhaimelaw.com/2014/06/22/canada-implements-worlds-first-national-bitcoin-law/
"What the changes mean for Bitcoin businesses internationally that target Canadians, or Canadian Bitcoin businesses, is that they will be required to obtain specialized AML legal advice, which will ensure consistency in advice provided to Bitcoin entities going forward. Canadian economic sanctions, the counter-terrorist financing regime and new Canadian politically exposed person regime in the Bitcoin legal environment is exceedingly complex and most regulators around the world openly admit they struggle with enforcing these aspects of AML law in Bitcoin. The former two (sanctions and terrorist financing) have always applied to Bitcoin entities worldwide."
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What do you guys think of Canada making new laws about btc?
sidenote: I made a few comments about Canada and how many of them seemed to be early adopters. Are they seeing the true value in btc now, by implementing the(se) national bitcoin laws?
"What the changes mean for Bitcoin businesses internationally that target Canadians, or Canadian Bitcoin businesses, is that they will be required to obtain specialized AML legal advice, which will ensure consistency in advice provided to Bitcoin entities going forward. Canadian economic sanctions, the counter-terrorist financing regime and new Canadian politically exposed person regime in the Bitcoin legal environment is exceedingly complex and most regulators around the world openly admit they struggle with enforcing these aspects of AML law in Bitcoin. The former two (sanctions and terrorist financing) have always applied to Bitcoin entities worldwide."
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What do you guys think of Canada making new laws about btc?
sidenote: I made a few comments about Canada and how many of them seemed to be early adopters. Are they seeing the true value in btc now, by implementing the(se) national bitcoin laws?
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