snIP/ITs Insights on Canadian Technology and Intellectual Property Law

Tag Archives: digital currency

Bank of Canada Releases Fintech Discussion Paper

Posted in Fintech

In July 2017, the Bank of Canada released a discussion paper outlining a framework for the assessment of risks and opportunities for central banks in connection with Fintech. This paper also more generally explores potential implications of Fintech for central banks, given their mandate over monetary policy, the design and distribution of currency and/or financial stability. … Continue Reading

“Not Necessarily Regulation, but Regulation as Necessary”: Canadian Senate Committee Weighs in on Regulation of Digital Currency

Posted in Regulatory Compliance, Virtual Currency

In March of 2014, the Minister of Finance tasked the Standing Senate Committee on Banking, Trade and Commerce to examine the use of digital currencies. The Committee pursued an extensive fact-finding mission in Canada and in the United States, speaking with, amongst others, representatives from regulatory bodies, financial institutions, digital currency interest groups, law enforcement, and universities. The long-anticipated, 64-page report was published this month with a clear message: while there are steps to take to address the risks digital currencies could pose in money laundering, terrorist financing, and tax evasion, the federal government should tread carefully in developing regulations … Continue Reading