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Bitcoin companies are now regulated in Canada
Canada has deemed that cryptocurrency companies—both domestic and foreign—that service Canadian customers will be officially regulated as Money Services Businesses (MSBs) in the country. They will now need to comply with regulations and register with Canada’s financial intelligence unit, FINTRAC. The corresponding amendments to the law were published last July by the Canadian government. Today is my last day as an unregulated dealer in virtual currency. As of June 1st 2020, Bitcoin exchanges and payment processors are officially regulated as Money Services Businesses in Canada. Full circle 7 years after I ... (full story)
