Hey Compliance Nerd! A friend of mine who wants to make a investment in Bitcoin. However his concern is declaring it to the government, so a couple years down the road if it is a successful investment he isn’t left dealing with AML regulations. Is that something that should be a cause for concern? A … Continue reading Ask Amber: Does bitcoin investment bring regulatory headaches?
Hey Compliance Nerd! I want to start serving clients in Quebec. I’ve already got a respondent, since I don’t have offices in Quebec… but my respondent is telling me that it could take as long as six (6) months to get a license under Quebec’s MSB Act?!? What’s up with the time that this takes? … Continue reading Ask Amber: Grace Period for MSB Licenses from Quebec’s AMF?
A new proposal was announced by the European Commission that can drastically change the environment for digital currencies in the European Union. This is after Bitcoin was determined by the European Court of Justice to be treated in the same way as traditional money. In a statement they released that bitcoin transactions “are exempt from VAT (value-added … Continue reading New Proposal Can Change Digital Currencies Laws in Europe
Hey Compliance Nerd! We buy and sell Bitcoin and a few altcoins in Canada, but we’re not a regulated entity under Canada’s AML rules. When we think that something shady is happening, we stop dealing with certain customers… Should we also be telling anyone about it if we suspect that there may be money laundering … Continue reading Voluntary FINTRAC Reporting
Hey Compliance Nerd! I run a Canadian digital currency company, and we’re having a really hard time getting a bank account. We’ve talked to a few banks, and most tell us that they don’t deal with Bitcoin companies (which is a bit crazy given all of the news about banks investing in Bitcoin). Recently we … Continue reading Banking Woes
This has been an intense week (or more) for the value of bitcoin. The rollarcoaster ride has been going on for a couple of weeks now. Here are a few snapshots of what things have looked like over the past 10 days in the Canadian bitcoin markets and beyond: First There’s Bitfinex… The steady rise followed by … Continue reading Canadian Bitcoin Markets
NewsBTC Canada welcomes our newest regular bitcoin news writer and contributor Jeanie Freshie. She will be writing articles and providing insight about Bitcoin and cryptocurrency from the perspective of the “regular person” who uses Bitcoin and other cryptocurrencies. Jeanie’s background is in writing and business and her perspective will provide a fresh view of how we … Continue reading NewsBTC Canada Welcomes Bitcoin News Writer Jeanie Freshie
Hey Compliance Nerd! Lately there has been quite a few customers contacting us to buy bitcoin because their systems have been infected with ransomeware. I saw a tweet last week that suggested that we might get in trouble for this, but I couldn’t find any more information. Obviously I want to be able to help … Continue reading Ask Amber: Bitcoin Ransomeware 2015
We have gathered some information about the past week’s activity in Bitcoin trading. This has been a hectic week with some shocking new territory having been hit. Take a look at the charts below that cover 10 days worth of activity from two popular USD markets compared to CAVirtex. Here’s a snapshot of Bitfinex taken … Continue reading Charting Canadian Bitcoin Trading – Market Snapshot Comparison
From time to time we will be taking a look at the Canadian Bitcoin (and some altcoin) markets and how they are performing in comparison to others. Aside from the difference in dollar value the Canadian markets for cryptocurrency tend to follow the same trajectory as other International markets but they are not as subject … Continue reading Canadian Bitcoin Markets