The Canadian Senate has officially taken a pro-Bitcoin stance with regards to future national regulations of Bitcoin and other digital currencies. The official Canadian Senate report titled “Digital Currency: You Can’t Flip This Coin! Report of the Standing Senate Committee on Banking, Trade and Commerce” explains how the government body views digital currency, and how it will be regulated, or not, going forward.
Canada Will Allow Bitcoin to Develop
The Canadian Senate has spent the better part of the last year reviewing the role of digital currencies will have on the future of economics in the nation. Learning how the currency and underlying technology works currently, what they may be able to provide in the future. The risks for crime, terrorism and fraud, plus the protection of citizens from “cybercrimes” were also weighed heavily in this decision. Their reports’ opening assessment of Bitcoin is as follows:
Block chain technology offers a secure alternative to consumers who do not wish to see their personal information fall prey to