2018-6-13 23:02 |
The Canadian crypto business community is still assessing the new proposed regulations but a number of experts have told Bitcoin Magazine that the impact on the community will be “massive” and “significant” and may result in a shake-up and consolidation of companies, including blockchain companies currently in the space.
The language used could mean a whole raft of businesses that deal in value transfer services.
Unfortunately, regulators sometimes get focused on the ‘letter’ rather than the ‘intent’ of the regulations.
Even though this is a draft, Scott noted, the final versions of regulations like these are usually very similar to the draft version.
We participate in a number of industry groups and will be submitting comments through them, as well as on our own behalf.
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