Canada’s Finance Minister Prepares to Regulate Bitcoin

Signals are emerging that will Canada is about to tighten up its grip on bitcoin and other decentralized digital foreign currencies. The country’ s financial minister Jim Flaherty singled out bitcoin by name in his federal budget today, plus announced forthcoming laws that would regulate it.

“ It is important to continuously improve Canada’s regime to address emerging risks, including digital currencies, such as Bitcoin, that will threaten Canada’s international management in the fight against money washing and terrorist financing, ” said Flaherty in the spending budget document.

The budget went on to guarantee “ anti-money laundering plus anti-terrorist financing regulations with regard to virtual currencies, such as Bitcoin. ”

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