Canada's Finance Minister Prepares to Regulate Bitcoin
Signals are emerging that Canada is about to tighten its grip on bitcoin and other decentralized digital currencies. The country's finance minister Jim Flaherty singled out bitcoin by name in his federal budget today, and announced forthcoming laws that would regulate it. "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. The budget went on to promise "anti-money....
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Canada Conservatives Disdainful of Bitcoin. In a speech unveiling the Federal Budget for 2014 on Tuesday, Canadian Finance Minister Jim Flaherty revealed government plans to fight money laundering and terrorism funded via Bitcoin. Using language marked by hyperbole and through allusions to the ever encroaching underworld, Flaherty expressed government concern about the “emerging risks” of Bitcoin: “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....