We are very pleased to announce that the Bitcoin Foundation Canada, the Bitcoin Embassy and the Bitcoin Alliance of Canada have been invited by the Senate of Canada’s Standing Committee on Banking, Trade and Commerce to serve as witnesses in the ongoing “study on the use of digital currency”.

The three organizations will be presenting during the same session, on October 2nd 2014 at 10:30 am. Each organization will have a 10 minute opening statement, followed by a Q&A period expected to last around one hour. They will be presenting the day after the testimony by the credit card industry, represented by VISA and MasterCard. It will be the first time that Bitcoin advocacy organizations are consulted by the Committee during this 10th day of testimony.

The Bitcoin Foundation Canada will be represented by Jillian Friedman, attorney and Chief Legal Officer and Guillaume Babin-Tremblay, founding member and Treasurer. The Bitcoin Embassy will be represented by Francis Pouliot, director of Public Affairs. The Bitcoin Alliance of Canada will be represented by Michael Perklin, Director and Steward Hoegner, General Counsel.

The Senate of Canada, although a component of the Parliament of Canada, does not hold the same legislative influence as the House of Commons or its American homonym. It can however be compared to the House of Lords in the United Kingdom. Because of its careful review process and non-confrontational approach, it has been referred to as the “chamber of sober second thought”. However, certain reports by Standing Committees have historically carried a lot of weight in the legislative and regulatory process.

Source: http://btcfoundation.ca/?p=1802

Francis from the Bitcoin Embassy here.

I think the CBP is a great idea because a large number of Bitcoiners have spent countless hours self-educating themselves about Bitcoin and other cryptos. How can you possibly measure this and put it on a CV? Write in the hobbies section "I read a lot of information about Bitcoin?"

Some employers might want their employees to be "bitcoin-savy" without necessarily meaning that they want them to do Bitcoin-related work for them.

 Simple use-case: you're a student and want to apply as a waiter and on your CV you have a Bitcoin certificate. Restaurant owner accepts Bitcoin, in which case he doesn't have to bother wasting hours on how to accept BTC payments. He might even ask you to manage the wallet, etc. Other case: restaurant owner wants to accept Bitcoin but doesn't really understand / can't be bother to operate the wallet himself or set up the payment channel. He might want to hire you with the added benefit of having an employee being able to set up Bitcoin payments.

Other use-case: applying for a university degree where the faculty is looking for students who are pro-active in their learning or that value self-learning.

The point: if you're and employer planning on accepting Bitcoin payments directly for your business and having someone that can manage a Bitcoin wallet is a plus for you, the CBP might be a good way for you to get the most out of your recruiting process.

Knowing the people who are behind cryptoconsortium, I think this is a legit project to help bring more clarity to the Bitcoin HR Market. I'm pretty confident that they could have found a more profitable business model and that they are truly trying to help the bitcoin economy.  I read somewhere on this topic that they would donate some of the profits in order to truly remain a non-profit project - if that's true than I just don't see how this could possibly be a scam.

Can't wait to see what's in the CBX!

Canada’s financial regulator (FINTRAC) confirms new Bitcoin rules not yet in force and won’t cover individuals and businesses that use Bitcoin for sales and purchases

Source: http://btcfoundation.ca/canadas-financial-regulator-fintrac-confirms-new-bitcoin-rules-not-yet-in-force-and-wont-cover-individuals-and-businesses-that-use-bitcoin-for-sales-and-purchases/

As expected, FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) has confirmed that changes to the Proceeds of Crime and Terrorism Financing Act included in  Bill C-31 will not cover individuals or businesses that use virtual currencies for buying and selling goods and services.

The statement also specifies that “the changes will come into force once regulations are published in the Canada Gazette”, meaning that they are not yet in force.

Through informal discussions with various regulators, the Bitcoin Foundation Canada has received information that the regulations which still need to be drafted would most likely not be published before 2015.

These clarifications come two weeks after the Bitcoin Foundation Canada’s “Bitcoin Legal and Regulatory Update” and a few days after the BFC published a report entitled “Bitcoin and the law”.

“Bitcoin and the law”: read the report here - http://btcfoundation.ca/new-report-on-bitcoin-and-the-law/

Once published, the regulations should clarify exactly which types of business models would be covered by the changes. The recent FINTRAC comments confirm that virtual currency exchanges will be covered by the existing rules of Canada’s anti-money laundering and anti-terrorist financing regime.

The statement doesn’t mention any other Bitcoin-specific business models being affected by the changes of Bill C-31. However, according to Jillian Friedman, “depending on the business model and the scope of pending regulatory amendments, a Bitcoin ATM operation may be considered a money service business.”

Moreover, discussions with various government representatives have led us to conclude that no sweeping new laws or regulatory regimes such as Ben Lawsky’s “BitLicenses” are being considered in Canada at this time. This reinforces our belief that Canada could assert itself a major international Bitcoin hub.

These clarifications stand in contrast to a 2013 Ministry of Finance memo highlighting Bitcoin’s risks recently released to the media and should be interpreted by the Bitcoin community as a reasonable attempt by the government to mitigate risks of money laundering.

Clearly, the opinions and attitudes of Canadian authorities are evolving as their knowledge of Bitcoin increases, thanks to the efforts of Bitcoin advocates all across Canada.

Digital currencies “do not exist in a legal vacuum and, therefore, sweeping legislative measures concerning Bitcoin are not needed”, according to a new analytical report on Bitcoin’s legal and regulatory framework published by the Bitcoin Foundation Canada (BFC).

Read here:

http://ca.bitcoinfoundation.org/wp-content/uploads/2014/07/BITCOIN-AND-THE-LAW.pdf

Entitled “Bitcoin and the law”, the report was authored by Jillian Friedman, chief legal officer at the Bitcoin Foundation Canada and Joseph Neudorfer, collaborator-attorney.

Contrary to the claims that Bitcoin is not regulated, existing legal and regulatory frameworks already apply to digital currencies. To determine which rules apply, the authors propose a functions-based approach, meaning that one must ask “how is Bitcoin being used in this particular context”?

According to Jillian Friedman, “legal obligations and constraints regarding Bitcoin should be based on the functions or particular services being performed rather than the technology itself”.

Whether or not Bitcoin is classified as ‘money’ does not preclude it from being subject to the principles of private law, criminal law, and, for certain business models, financial services law. In most cases, a simple clarification of existing laws is justified.

*Contracts under private law in Bitcoin: using Bitcoin does not render parties exempt from the application of the rule of law

*Consumer protection: all of the legal obligations resulting from the sale of a good to a consumer apply to transactions with Bitcoin

*Fraud: the investing public is protected by existing criminal legislation against fraudulent Bitcoins schemes.

*Financial services law: the activities of digital currency businesses that are similar to money services businesses will soon have to play by the same rules as their fiat counter parts.

The authors provide much-needed information on other topics such as income and sales taxation, money service business status, securities and capital markets as well as provincial law. The report, which dispels the ongoing myth that Bitcoin is not regulated, will serve as a basis for the Bitcoin Foundation Canada’s testimonials at the Senate Banking Committee hearings in October 2014.

The readers will note that the report’s underlying approach is in stark contrast with heavy-handed and technology-specific alternatives such as the “BitLicense regulations” proposed by the New York Department of Financial Services.

Abstract

This report demonstrates that Bitcoin does not exist in a legal vacuum by detailing how the relevant legal and regulatory frameworks already apply to its use. We posit that whether or not Bitcoin is classified as “money” does not preclude Bitcoin and other digital currencies from being subject to the principles of private law, criminal law, and, for certain business models, financial services law. Regarding contracts under private law, it is clear that the mere fact that Bitcoin is an instrument to an agreement or a contract does not render the parties exempt from the application of the rule of law. In terms of consumer protection, we observe that all of the legal obligations resulting from the sale of a good to a consumer would apply to the transaction, regardless of whether the sale is conducted with Bitcoin or other traditional fiat currencies. Regarding financial services law, the activities of digital currency businesses that are similar to money services businesses, such as exchanges, will likely soon have to play by the same rules as their fiat counter parts. Criminal law is also applicable to Bitcoin related activities; for example, the investing public is protected by existing criminal legislation against fraudulent Bitcoins schemes. In terms of taxation, we review what tax authorities have made clear about the tax treatment of certain Bitcoin transactions and highlight lingering ambiguities. We see great potential for the use of blockchain technology for capital markets, specifically securities. It’s likely that different investment products using blockchain technology might be subject to applicable securities law.

Based on our observations and analysis, we conclude that Bitcoin does not exist in a legal vacuum. Therefore, sweeping legislative measures concerning Bitcoin are not needed.

Francis Pouliot, CEO Bitcoin Foundation Canada
July 18th  2014

source: http://ca.bitcoinfoundation.org/proposed-bitlicense-regulations-will-isolate-new-york/

The NYDFS is targeting individuals and corporations that gravitate around a computer protocol in a way that seems discriminatory and unjustified. As described by Bitcoin Foundation Regulation Affairs Committee Marco Santorini, the proposals target all members of the Bitcoin community:

“Who Requires a License: Surprise!  Everyone does.  Direct purchasers and sellers, multi-sig wallet providers, merchant payment processors, custodial exchanges, hell, even local wallet software providers probably need one […] Anyone who receives or transmits crypto as a business needs one”

Such technology-specific legislations are misguided, unnecessary and unreasonable. It is a much more rational approach to start understanding how the current laws already apply. Bitcoin does not exist in a legal vacuum. The sole fact that Bitcoin is used as an alternative to fiat money in a given context does not make it exempt to the laws in place and in most cases only a clarification of existing rules so that they apply to Bitcoin is necessary.

Enforcement of the Lawsky regulations, however, will prove to be an issue. The nature of Bitcoin is that the network is not, and cannot be, subjected to the control of any government, financial institution or any group whatsoever. Both the community and the technology are decentralized and will react organically to any external disruption, precisely because the network provides freedom of transaction.

As stated by Eric Vorhees: “a technology like Bitcoin will lead humanity in its own direction, despite the most eloquent proclamations from kings of any country”

Because of the extent of the burden created by this proposal, the incentive not to conduct business or to transact with individuals and corporations in the State of New York will become far greater. Financial and technological innovation will simply happen elsewhere. Bitcoin businesses have proven to be very mobile and sensitive to their regulatory environment.

However, Canadian authorities have proven to be cooperative and no such drastic proposals are being considered here. I am confident that they will approach Bitcoin in a rational and pragmatic manner that will truly foster innovation. Canada could very well prove to be a haven for the Bitcoin industry, much to its benefit.

Event:

Bitcoin Legal and Regulatory Update
Live broadcast public and free

hosted at the bitcoinembassy.ca in Montreal
 presentation by the Bitcoin Foundation Canada (ca.bitcoinfoundation.org
July 17th 2014 - 6h00 PM - directions - Free
RSVP via Facebook: https://www.facebook.com/events/498506986946626/
or Meet-up: http://www.meetup.com/Bitcoin-Embassy
Book your participation now! - via Google Hangout: https://plus.google.com/events/ckuah2ou17uglkeq7o36jllku4s
 and Youtube: http://www.youtube.com/watch?v=B34VTNpJChE

Event information

The Bitcoin Foundation Canada has been monitoring, analysing and influencing the regulatory process surrounding Bitcoin in Canada on behalf of its members and to the benefit of the entire community. This event will be the occasion for us to share our findings and analysis on Bitcoin's legal and regulatory status in Canada and our experts will be available for questions.

Speakers

Jillian Friedman, Director of the Bitcoin Foundation Canada and legal counsel to the Bitcoin Embassy, will present a clear and accurate overview of Bitcoin's legal and regulatory status. Ms Friedman will also share the Bitcoin Foundation Canada's analysis of recent developments, outstanding issues and what we can expect in the near future. (30 min)

Phillipe-Antoine Plante, Director of the Bitcoin Foundation Canada and CEO of Quebec-based cryptocurrency exchange MORREX Inc., will relate his experience as a Bitcoin entrepreneur. (10 min)

Francis Pouliot, Director of Public Affairs at the Bitcoin Foundation Canada, will give an overview of the Bitcoin Foundation Canada's ongoing projects and will announce a new development regarding the BFC's involvement in the regulatory process. (10 min)

I'll try to make captions asap! It's surprisingly very long and difficult :*

Hello,

As representative of the Bitcoin Foundation Canada, I have  TEDx Talk of "Bitcoin: rethinking money". Unfortunately it is only available in French.

https://www.youtube.com/watch?v=ZbckTBAHYJw

Feedback welcomed!

Bitcoin Foundation Canada's statement here:

http://ca.bitcoinfoundation.org/inclusion-of-digital-currency-businesses-to-anti-money-laundering-law-should-come-as-no-surprise/

Thanks a lot! Right now we have French and English. Spanish is next!

Despite ongoing education efforts, the Canadian public remains largely misinformed about Bitcoin and this trend cannot be reversed solely by the efforts an organization like the Bitcoin Foundation Canada. Our country is diverse and large country and this mission will be more efficiently fulfilled if the tasks required are performed in a distributed manner.

This does not mean that we wish to divest ourselves from our duty to conduct Bitcoin education campaigns on behalf of our members. On the contrary, the Bitcoin Foundation Canada has seized every occasion to promote Bitcoin through interviews, conferences, opinion articles and even a TED talk. As our members will see in the following months, that is just the beginning.

In addition to our own efforts education efforts, we want to provide free tools and resources to members of the Bitcoin community so that they can easily spread the word about Bitcoin in their own way.

It is our great pleasure to announce that the Bitcoin Foundation Canada has just created 12 500 “What is Bitcoin?” flyers and that their distribution across Canada has already begun.

Get the PDF version here: http://ca.bitcoinfoundation.org/wp-content/uploads/2014/06/Flyer-jpg.pdf


Trying a new format

The flyer is smaller than alternatives such as Bitcoin Bigfoot’s brochure, measuring 10 x 15 cm (4” x 6”). It is printed on both sides of thick card paper and is meant to fit in a pocket.

There are two sections on the front side: informational and promotional. On the back side, there is an instructional section on how to get started with Bitcoin. The content of the flyer was carefully selected to be as concise and informative as possible.

I’ve personally found the dualistic definition of Bitcoin we printed on the flyer to be helpful in explaining Bitcoin. I also think it’s better to start presenting Bitcoin as an open-source software first and foremost, and that Bitcoin the currency is the result of the software being used on a peer-to-peer network (although there isn’t that much space on a flyer).

We added a link to bitcoin.org, also presented as a QR code, which we found to be a high quality educational resource.


The process

The content and concept was created by the Bitcoin Foundation Canada. The financing of the project was shared between the BFC (via membership dues) and the two sponsors of the flyer, Coinkite and Quadriga CX. We are grateful to both these industry members who were enthusiastic about the project.

We were able to find a graphic designer located next to our headquarters in Montreal who was already familiar with Bitcoin and was very interested in the Bitcoin economy’s potential. Dialogue was not hard to convince to accept Bitcoin, and we recommend their excellent services.

We printed 10 000 flyers in English and 2 500 in French. As they arrived during the Canadian Grand Prix weekend in Montreal, we distributed hundreds of them to locals and tourists during the week-end at the Bitcoin Embassy’s booth. We have already sent 750 flyers to Vancouver for distribution during the Crypto Block Party and we plan to ship packages to Bitcoin associations, businesses or bitcoiners across the country.

How you can help

If you are a Canadian resident, you like what we are doing and you want us to continue our work, consider becoming a member of the Bitcoin Foundation Canada. We have many projects ahead of us and our members will be asked to participate or give feedback, as well as having membership privileges.

Donations are also welcome: 1A3zbcpxNpMysaXvyotTXcftCpLMfRK6TZ

Individuals, businesses and organisations (in Canada) that wish to receive the flyers for distribution are encourage to request them by writing to me at francis.pouliot@ca.bitcoinfoundation.org. Individual and industry members will have precedence in the distribution.


Source: http://ca.bitcoinfoundation.org/free-educational-resource-12-500-what-is-bitcoin-flyers-distributed-across-canada/

Hello everybody,

This is Francis from the Bitcoin Foundation Canada.

If you are in Montreal or Vancouver this weekend, check this out: http://ca.bitcoinfoundation.org/vancouver-and-montreal-host-free-and-public-outdoor-bitcoin-education-events/

Hello everyone,

Francis Pouliot here from the Bitcoin Foundation Canada. I just posted a reply to the Bank of Canada's statements on Bitcoin.

http://ca.bitcoinfoundation.org/bitcoin-from-not-money-to-bankers-boogeyman/

Also, note their peculiar definition of money:

Money should be a generally accepted medium of exchange
Money should be a unit of account so that we can compare the costs of goods and services over time and between merchants
Money should be a store of value that stays table over time

Comments apprecieated

http://ca.bitcoinfoundation.org/bitcoin-from-not-money-to-bankers-boogeyman/