Bitcoin Community in Canada Prepares Itself to Present its Case to Senate Hearing

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Bitcoin in Canada

Stalwarts of Bitcoin community that include Michael Perklin (Bitcoin Alliance of Canada), Francis Pouliot (Bitcoin Embassy/Bitcoin Foundation Canada), Jillian Friedman (Bitcoin Foundation Canada), Guillaume Babin-Tremblay (Bitcoin Foundation Canada), and Stuart Hoegner (Bitcoin Alliance of Canada), have agreed to present the case for Bitcoin to Senate hearing.

According to a blog posted at the Bitcoin Foundation the group is going to put the valuable inputs in response to a call from the Senate. The blog says that on October 2nd 2014, three Bitcoin organizations served as witnesses at “Study on the use of digital currency” conducted by the Senate of Canada’s Committee on Banking, Trade and Commerce.

Earlier the Parliament of Canada declared that the Bitcoin Foundation Canada, the Bitcoin Embassy and the Bitcoin Alliance of Canada will be the first non-profit organizations to be publicly consulted about cryptocurrency. The three agencies will provide the “insider” knowledge that other witnesses like banks and credit card companies are not able to provide.

The blogger at the Bitcoin Foundation says that engaging with policy-makers can be a difficult and lengthy process; however, according to him it is not a useless endeavor. He adds that if there is anything that Bitcoin advocates all around the world can learn from experience, it is that perseverance and patience will eventually pay off.

The blog says that the legitimacy of Bitcoin organizations has been subject to debate within the community; however, according to the blogger he thinks that interventions at the Senate in Canada as well as the global Bitcoin Foundation’s testimony at the first U.S. Senate hearing on Bitcoin nearly one year ago are some wonderful steps to promote Bitcoin.

Building up Bitcoin Community is Important

According to the Bitcoin Foundation blogger these are examples that show that such groups are playing a crucial part in promoting the technology for which everyone shares a passion. The blogger opines that every country must have some sort of organization that has people who are willing to volunteer, donate or even become one of its organizers.

The Bitcoin Foundation which provides support to its various chapters around the world believes that it is no secret that government institutions all over the world are paying close attention to the rise of Bitcoin and other cryptocurrencies

However, according to it tax authorities, financial regulators, central banks and legislative bodies of many countries have begun the first steps of a policy process which will integrate Bitcoin into existing regulation and Bitcoin communities can help them in it.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com