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dancupid (OP)
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May 20, 2013, 04:49:50 PM |
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...with open arms. http://www.theregister.co.uk/2013/05/20/canada_welcomes_bitcoin_traders_fintrac_letter/"The Register has seen a letter from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) which was sent to several prominent Bitcoin exchanges in the country, explaining they are exempt from strict money-laundering laws." An oddly proactive move : looks like 'the government' won't have things so easy after all (thanks to the indefinite article) |
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"The nature of Bitcoin is such that once version 0.1 was released, the
core design was set in stone for the rest of its lifetime." -- Satoshi
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01BTC10
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May 20, 2013, 04:54:49 PM |
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Good news! Canada the Bitcoin regulation heaven.
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aigeezer
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Cryptanalyst castrated by his government, 1952
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May 20, 2013, 04:58:54 PM |
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Interesting piece. I went looking for hints of confirmation on the FINTRAC site and found nothing. Early days yet, I suppose. I did find an amusing page on their site though - some fraudster is apparently impersonating them, so FINTRAC has to warn people about possible fraudulent emails purporting to be from FINTRAC. http://www.fintrac-canafe.gc.ca/new-neuf/nr/2013-04-15-eng.aspIt ain't easy being a regulator.  |
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Bowjob
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May 20, 2013, 06:06:28 PM |
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brb, buying Virtex shares.
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It seemed like a good idea at the time.
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Birdy
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May 20, 2013, 06:09:09 PM |
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cedivad
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May 20, 2013, 06:15:07 PM |
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Time to learn how to speak Canadian?
Canadian? LOL. I love you Americans. |
My anger against what is wrong in the Bitcoin community is productive: Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)Hashfast.org - Wiki for screwed customers |
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CanadianGuy
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May 20, 2013, 06:16:39 PM |
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Time to learn how to speak Canadian?
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Bowjob
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May 20, 2013, 06:17:14 PM |
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It's easy. All you have to do is add "eh" to every part of your sentences, eh?
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It seemed like a good idea at the time.
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mc_lovin
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www.bitcointrading.com
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May 20, 2013, 06:57:51 PM |
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Excellent, eh?
Anyone got a copy of the FINTRAC letter?
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coincepts
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May 20, 2013, 07:48:50 PM |
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if this is true it is pretty huge news. jury still out on if it is hearsay or trolling though.
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The Bitcoin Catalog
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The Bitcoin Catalog ---> Get Started!
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May 20, 2013, 07:59:26 PM |
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Pretty good news. I hope they will stick to that position.
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Akka
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May 20, 2013, 08:06:02 PM |
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It's easy. All you have to do is add "eh" to every part of your sentences, eh?
http://www.youtube.com/watch?v=-8haHgfq2x4  |
All previous versions of currency will no longer be supported as of this update
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cypherdoc
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May 20, 2013, 08:10:00 PM |
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ummm, don't mean to be a skeptic but how can this be possible given that they've been shutting down exchanges bank accounts recently?
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01BTC10
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May 20, 2013, 08:13:11 PM |
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ummm, don't mean to be a skeptic but how can this be possible given that they've been shutting down exchanges bank accounts recently?
They (FINTRAC) didn't shutdown any exchange bank account. The bank did it all by themselves. |
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impulse
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May 20, 2013, 08:43:25 PM |
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Hmm, interesting development if this holds true, and just when things were starting to look a little bit bleak in Canada regarding Bitcoin. The most interesting thing that could develop from this would be that it may put pressure on U.S. regulators to lighten up, or better yet, be proactive to ensure that Bitcoin based businesses in the U.S. are protected and competitive.
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cypherdoc
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May 20, 2013, 08:45:17 PM |
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ummm, don't mean to be a skeptic but how can this be possible given that they've been shutting down exchanges bank accounts recently?
They (FINTRAC) didn't shutdown any exchange bank account. The bank did it all by themselves. you're right. so does this mean those banks will be required to reinstate the accounts? and will we thus see the return of those exchanges? which were shut down again? Cavirtex? |
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01BTC10
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May 20, 2013, 08:47:26 PM |
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Hmm, interesting development if this holds true, and just when things were starting to look a little bit bleak in Canada regarding Bitcoin. The most interesting thing that could develop from this would be that it may put pressure on U.S. regulators to lighten up, or better yet, be proactive to ensure that Bitcoin based businesses in the U.S. are protected and competitive.
I think most of the time the US don't get pressured by Canadian policy. It's mostly the other way. If the US don't like Bitcoin they will pressure Canada to follow their policy. |
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impulse
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May 20, 2013, 08:48:00 PM |
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ummm, don't mean to be a skeptic but how can this be possible given that they've been shutting down exchanges bank accounts recently?
They (FINTRAC) didn't shutdown any exchange bank account. The bank did it all by themselves. you're right. so does this mean those banks will be required to reinstate the accounts? and will we thus see the return of those exchanges? which were shut down again? Cavirtex? Virtex has had several accounts frozen but they are still operating and hold an open account with the Bank of Montreal I believe. I have an account with Virtex that I have never had trouble accessing or sending money to. |
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01BTC10
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May 20, 2013, 08:48:48 PM |
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ummm, don't mean to be a skeptic but how can this be possible given that they've been shutting down exchanges bank accounts recently?
They (FINTRAC) didn't shutdown any exchange bank account. The bank did it all by themselves. you're right. so does this mean those banks will be required to reinstate the accounts? and will we thus see the return of those exchanges? which were shut down again? Cavirtex? No exchange has been shutdown, only their bank account but they switched to more Bitcoin friendly financial institution. Bank can accept or refuse whatever client they want and don't have to justify themselves. |
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cypherdoc
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Activity: 1764
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May 20, 2013, 08:48:49 PM |
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ummm, don't mean to be a skeptic but how can this be possible given that they've been shutting down exchanges bank accounts recently?
They (FINTRAC) didn't shutdown any exchange bank account. The bank did it all by themselves. you're right. so does this mean those banks will be required to reinstate the accounts? and will we thus see the return of those exchanges? which were shut down again? Cavirtex? Virtex has had several accounts frozen but they are still operating and hold an open account with the Bank of Montreal I believe. I have an account with Virtex that I have never had trouble accessing or sending money to. even now? |
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