Canadian Senate Officially Takes a Pro-Bitcoin Stance
The Canadian Senate has officially taken a pro-Bitcoin stance with regards to future national regulations of Bitcoin and other digital currencies. The official Canadian Senate report titled "Digital Currency: You Can't Flip This Coin! Report of the Standing Senate Committee on Banking, Trade and Commerce" explains how the government body views digital currency, and how it will be regulated, or not, going forward. Canada Will Allow Bitcoin to Develop. The Canadian Senate has spent the better part of the last year reviewing the role of digital currencies will have on the future of economics....
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What is Canada's place in regulating bitcoin? This is the theme running through the Canadian Senate's Standing Committee on Banking, Trade and Commerce's study on the use of digital currency. The Bitcoin Strategy Group, BitAccess and CAVirtEx sat before the senators on 9th April to demonstrate how bitcoin is purchased and stored. Their representation marks the first presence of bitcoiners in the Senate sphere. The Canadian Senate has already heard from the Bank of Canada, the Department of Finance, economic historians and other academics. On Thursday, April 10th, the committee will hear....
While Robocoin was this week busy demonstrating their bitoin ATM on Capitol Hill, a similar occurrence is taking place up North in Canada. BitAccess, Canadian bitcoin ATM manufacturer, is demonstrating their kiosk before the Canadian Senate Standing Committee on Banking today. According to Bitcoin Magazine, the company's co-founder Haseeb Awan will be showing off the machine's features and even assisting Senator Irving Gerstein in acquiring some bitcoin of his own. According to Awan, this move is necessary to help lawmakers understand the technology before they try to regulate it. As the....
On Wednesday, October 8th, the bitcoin community's own Andreas M. Antonopoulos spoke at length to the Canadian Senate with reference to the digital currency and regulation. https://www.youtube.com/watch?v=xUNGFZDO8mM. Video Description: October 8th 2014, Committee on Banking, Trade and Commerce / "Study on the use of digital currency", 11th session. Duration: 1hr:52m
The Canadian Senate has decided to protect Bitcoin from massive government regulation opting to approach the new technology with “a light regulatory touch – almost a hands-off approach.” After many months of thoughtful deliberations, the legislative body released the official Canadian Senate report titled “Digital Currency: You Can’t Flip This Coin! Report of the Standing Senate Committee on Banking, Trade and Commerce.” The Canadian Senate has spent the better part of the last year reviewing the role of digital currencies will have on the future of economics in the nation including....
While most governments have been taking steps to regulate the bitcoin industry and others declaring a completely close-minded stance against digital currencies, Canada's Senate decided to vote against bitcoin regulation. The Canadian Senate's Banking, Trade and Commerce (BTC) committee released its findings last Friday and asked the federal government to use a "light touch" in dealing with digital currencies. The report indicated that legislators have acknowledged that the bitcoin industry is still young and developing so they'd like to see a more nurturing environment instead of one that....