Bitcoin News Mash-Up: Canada’s Regulation; Betting Sites Closed Down; and More

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Bitcoin News Mash-Up

Following are the major Bitcoin events that took place between June 23rd and 24th

Canadian Parliament Passes Law to Regulate Bitcoin Companies. The Canadian Parliament recently made a ground breaking headline in the cryptocurrency market. Upon the consent of the majority of its lawmakers, the government has made few amends in its Proceeds of Crime (Money Laundering) and Terrorist Financing Act of 2000. The latest upgrades will now bring Bitcoin and other cryptocurrency businesses under a strict government regulation. The law reads:

“Division 19 of Part 6 amends the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to, among other things enhances the client identification, record keeping and registration requirements for financial institutions and intermediaries, refer to online casinos, and extend the application of the Act to persons and entities that deal in virtual currencies and foreign money services businesses.”

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Betting Sites Closed After New Canadian Regulations

The cryptocurrency based betting sites Just Dice, as well as its sister site Doge Dice, also announced to go offline for some time, right after the new of Canadian regulation of Bitcoin rolled in. As expressed by the company, the new regulations will make it impossible for them to work in a flexible manner. The users on these sites are anonymous, thus the companies cannot comply with the law, which asks them to keep records of the activities and report suspicious transactions.

Ashton Kutcher Happy with BitGo.COM

Hollywood actor Ashton Kutcher expressed his satisfaction with BitGo.COM. The actor, who has always been a huge fan of Bitcoin since its launch, thanked BitGo.COM via twitter for offering him a simple, secure and seamless environment for managing his Bitcoins. He had previously made a huge investment into this company as well.

To contact the assembler of the stories: Yashu Gola at yashu@forexminute.com Subscribe to our daily forex newsletter for free by visiting www.forexminute.com/newsletter