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| Subject: Fuckers: Canada to Get Tougher on Bitcoin-Linked 'Crime,' (Read Free Trade) Tue Feb 11, 2014 6:36 pm | |
| The Canadian government said in its 2014 budget that it plans measures to fight money laundering and terrorist-financing activities that are carried out using virtual currencies such as bitcoin. But the budget was short on details.
The Canadian government has already said it doesn’t recognize bitcoin as legal tender. But the proposal clearly recognizes the growing use and popularity of virtual currencies.
“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,” according to the budget document. The government plans public consultations to develop a comprehensive framework to oversee the Canadian payments system.
Government officials said Tuesday that the measures could include such things as requiring ATM operators to report bitcoin transactions, which aren’t currently captured by anti-money laundering and terrorist financing legislation.
The bar for Canada to recognize bitcoin as legal tender is very high, the officials added, noting that it’s currently used to purchase of illicit and controlled drugs.
http://stream.wsj.com/story/latest-headlines/SS-2-63399/SS-2-452221/ |
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