Canada Seeks to Keep a Closer Eye on Bitcoin and Other Digital Currencies
While Canada seems to be at the forefront of innovation and adoption of bitcoin, the country's government is keen to keep a closer eye on the digital currency, along with its counterparts. The news was revealed in a federal budget Tuesday, according to Reuters, who notes that the country will "toughen" rules and regulations to prevent money laundering and terrorism financing. "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....
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Tiff Macklem said Canada's digital dollar initiative is progressing past the experimental phase and that the G7 needs to coordinate on digital currencies.
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