In JUNE 02, 2020, All cryptocurrency firms in Canada are now legally recognized as money service businesses.
After five year fighting for one issue .i.e “Bitcoin is money, it should be regulated like other money, no more, no less”.
And now Canada Bitcoiners WON!
Should you care about it?
Once you understand that how far we’ve come. It took five years to agree/negotiate what specific activity are covered and the technicalities of this regulation.
The CEO of Canadian crypto assets exchange BullBitcoin said this in his tweet (@NODEfather).
I went to prison five years ago for selling 10 Bitcoin for $9,200 in 2014. Unlicensed money transmission, which used the banking Secrecy Act of 1970 a 50+ plus year old law applied to Bitcoin.
Canada is quickly turning into a dominating force in the Western world as far as cryptocurrency regulations goes.
Canada Bitcoin solutions just celebrated a major milestone in their mission to make it easier for people to access, buy and sell Bitcoin and other cryptocurrencies. They will become the first publicly traded Bitcoin ATM service in Canada, the first one of its kind to be listed as a publicly traded company.
This listing will help us grow our network of Bitcoin ATMs and online services making it even easier for you to buy and sell Bitcoin and other cryptocurrencies, wherever you are, it will also bring Bitcoin and cryptocurrencies further into the mainstream, giving customers a chance to learn more about the benefits of decentralized currency.
Hope to see a couple of small victories in coming days because small victories lead to big victories.