{"id":234,"date":"2014-06-06T22:55:00","date_gmt":"2014-06-06T22:55:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/canada-is-second-most-popular-country\/"},"modified":"2014-06-06T22:55:00","modified_gmt":"2014-06-06T22:55:00","slug":"canada-is-second-most-popular-country","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2014\/06\/canada-is-second-most-popular-country.html","title":{"rendered":"Canada is second most popular country for bitcoin investment"},"content":{"rendered":"
\n<\/div>\n
\nCanada is the second most popular destination for capital investment in bitcoin companies, a Montreal think-tank says.<\/b><\/div>\n
\n<\/div>\n
\n<\/a><\/b><\/div>\n

<\/p>\n

\n<\/div>\n

(TorontoSun<\/a>) Some $10.5 million of venture capital has been invested in bitcoin<\/a> in
\n Canada, putting us behind the U.S. and just ahead of China, the
\nMontreal Economic Institute says.
\n<\/p>\n

\n<\/div>\n
\nBitcoin, digital currency created in 2009, allows people to make transactions anonymously without going through a central bank.<\/div>\n
\n<\/div>\n
\n<\/div>\n
\nBut the currency’s association with money laundering and its lack of
\ngovernment regulation puts its growth and development at risk in Canada,
\n the think-tank warned.<\/div>\n
\n<\/div>\n
\n“In order for it to develop its potential and be adopted by a growing
\n number of users, clear rules are required, along with some kind of
\ngovernmental acceptance,” study author David Descoteaux said in a
\nstatement.<\/div>\n
\n<\/div>\n
\n<\/div>\n
\nDescoteaux said Canada should create legislation to facilitate interaction between Canadian banks and bitcoin companies.<\/div>\n
\n<\/div>\n
\nBanks are wary of offering services to bitcoin companies for fear of running afoul of money laundering laws, he said.<\/div>\n
\n<\/div>\n
\n<\/div>\n
\nFor example, Cointrader, which launched the first bitcoin ATM in
\nMontreal, alleges the Bank of Montreal shut down its account and those
\nof other businesses that trade in bitcoin.<\/div>\n
\n<\/div>\n
\nThese kinds of stories send companies \u2014 which may be on the forefront
\n of currency innovation \u2014 elsewhere to set up shop, the think-tank said.<\/div>\n
\n<\/div>\n
\n<\/div>\n
\nGermany, for example, has bitcoin legislation and tax policy.<\/div>\n
\n<\/div>\n
\n“These clear rules, as well as a tax treatment that allows bitcoin to
\n be used as a currency, explain why the digital currency is popular in
\nGermany and why this country was one of the first bitcoin hubs,”
\nDescoteaux said.<\/div>\n
\n<\/div>\n
\n“Canada has so far been quite welcoming to bitcoin, and in clarifying
\n its own regulatory framework, it should ensure that it remains so.”<\/div>\n

Open your free digital wallet here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n","protected":false},"excerpt":{"rendered":"

Canada is the second most popular destination for capital investment in bitcoin companies, a Montreal think-tank says. (TorontoSun) Some $10.5 million of venture capital has been invested in bitcoin in Canada, putting us behind the U.S. and just ahead of China, the Montreal Economic Institute says. Bitcoin, digital currency created in 2009, allows people to […]<\/p>\n","protected":false},"author":1,"featured_media":786,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,37,76,142],"tags":[704,764,828],"yoast_head":"\nCanada is second most popular country for bitcoin investment -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/holytransaction.com\/blog\/2014\/06\/canada-is-second-most-popular-country.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canada is second most popular country for bitcoin investment\" \/>\n<meta property=\"og:description\" content=\"Canada is the second most popular destination for capital investment in bitcoin companies, a Montreal think-tank says. 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