Speak Up Canada

speakupcanada

The awesome people over at Bitcoin Winnipeg started a petition with regards to regulations finance minister Jim Flaherty mentioned during the 2014 federal budget statement,

It is important to continually improve Canada’s regime to address emerging risks, including virtual currencies, such as Bitcoin, that threaten Canada’s international leadership in the fight against money laundering and terrorist financing

What does this mean?

The government plans to provide FINTRAC with up to $10.5 million over five years, according to budget documents, and then up to $2.2 million annually in the years following.  As well, the government announced its intention to provide FINTRAC with up to $12 million in additional funding, which will be distributed on an “as needed” basis over a five-year period, to help FINTRAC improve its analytics system

What is the purpose of the petition?

[To] favour a progressive and moderate stance toward digital currencies such as Bitcoin in Canada.

To read more about the petition and the petition itself, head over to Bitcoin Winnipeg’s Speak Uppage.

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