Canadian Government Decides -- Bitcoin is Hands Off -- No Real Regulation

[dblink]

Wow this is a good news . They allowed bitcoin and admit bitcoin, this is a good news to bitcoin network. I hope with this news, bitcoin network will spread quickly over Canadian 
Right now there are no many countries accept bitcoin, but Canada allowed it. This is so cool , i hope my country will do this too

Do not worry, you country will soon implement the bitcoin digital currency system in their monetary funds. As soon as Canada starts transitioning with bitcoin digital currency, the other countries will surely follow it, since it will be an eye opener for other major powerful countries in this world.

[spazzdla]

Democracy is an utter joke.

America has Person A and Person B who work for the Central banks.

Canada has Person A(the blues), Person B(The reds) and Person C(The orange) who all work for the central banks.


Democracy has failed.. The banks must have a serious plan for crypto.. it is a great tool to completely control the finances of your serfs... :S.

[Hazir]

Main government is on the right path but as we can read, provinces of Canada are not so happy about it:

"Of course, that doesn’t mean that Canada’s provinces haven’t tried their hand at overseeing Bitcoin in some capacity. In February, Quebec updated its financial policies to require operators of Bitcoin exchanges—where people can buy Bitcoin for regular money—and ATMs to obtain a license. A recently finalized piece of legislation in new York also requires licenses for Bitcoin businesses, and it received widespread criticism for threatening to stifle innovation."

We could have different laws in each province similar as we have now different tax law in each state. But I expect bitcoin price to rise after this news nonetheless.

[gogxmagog]

Canadian govt for all its flaws does actually have a history of encouraging innovation in fields of science and technological by. I think this is just another example. It's like a photo op for these politicos. Support a oddball tech gizmo thingy and get your name in the paper.
Still, it's good news, and I look forewarn to seeing doors open and support offered to innovators in the crypto sphere in Canada. We give out grant money for almost anything else, might as well throw some at BTC. This senate ruling is just the beginning!

[BillyBobZorton]

There are pros and cons on what they said.. my biggest concern it seems like they will be pushing an agenda to regulate exchange that only deal with crypto. Remember how Poloniex got fucked by Fincen and got them forced to demand information to their users? Well imagine this happens to every single exchange even if they don't deal with any fiats.

It's not bad overall but with some bad points.