Just caught this off The Register. Bitcoin just got the endorsement of regulation in Canada. My, my. On the same footing as the Dollar no less. A little bit of a two edged sword this, as by putting Bitcoin on the official list of currencies, the various exchanges will have to register and comply with the financial regulations up north of the 49th parallel or get out of Canuckland. However, the upside is that by recognising Bitcoin, it gives the controversial crypto-currency a veneer of respectability, and encourage wider trading and convertibility. Which in a wider sense can be considered a good thing. Even if the main intent is to allow the taxman to get a piece of the action.
First the Enbridge pipeline gets approved, now this. Canada’s economic future is looking brighter all the time.