Canada has made crypto (along with all other crowd funding platforms) a part of anti- money laundering & terrorist funding act. This is in no way a step towards ‘good’ regulation.

Some might condone this action by saying that atleast they are being recognised by a sovereign government but is such a recognition even good? Firstly, you’re taxed at the highest possible tax rate, then just by the sheer fact that you trade on crypto platforms- you can be considered a part of the larger terrorist cartel.

There is enough technology leap that the larger populace needed to jump & cross in order to adopt the technology. And now the governments around the world are creating artificial social barriers. As once you’re labelled a suspect for a terrorist- imagine trying to find a job, a house in a nice locality, and so on.

Even in the country that i come from- India, they’ll tax our profits for 30% and there’s no set off for any losses that you might incur in the process. And this is just the taxation part, the real Cryptocurrency bill is in the construction stage right now. It might/ not make trading in crypto ecosystem illegal.

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22 thoughts on “Canada has made crypto (along with all other crowd funding platforms) a part of anti- money laundering & terrorist funding act. This is in no way a step towards ‘good’ regulation.”

  1. Jeez, Noone suspecting you for only having crypto.

    This just means that they are considering crypto a valid form of money, the same way the truckers openly accepting donation in the form of crypto.

    Basically what you get for flashing your butt cheeks on government’s face. “cAN’t bAn Me iF i USe CryPto”, and then when they enforce something “oH, no. GOveRnMenT is A TyRaNT”

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  2. This has nothing to do with regulating crypto. It just recognizes cryptocurrency as a funding mechanism in an anti money laundering and terrorist funding act that has already existed for quite some time

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  3. > then just by the sheer fact that you trade on crypto platforms- you can be considered a part of the larger terrorist cartel.

    They’re not after the traders, they want to go after people sending crypto to known terrorist groups.

    Canada’s interested in & encouraging crypto: https://www.parl.ca/DocumentViewer/en/44-1/bill/C-249/first-reading

    Canada has had spot ETF’s for over a year now

    Canada wants to ensure crypto isn’t used for illegal/terrorist funding purposes, much like what they’re already currently doing with fiat (FINTRAC). While we can disagree on what constitutes a terrorist group, i’d be quite alright making it illegal to fund Al-Qaeda for example.

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  4. Good regulation is self regulation, didn’t yall learn a lesson from literally every case greedy politicians got their hands on something?

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  5. Funny things about government is that they say you are free and you can participate unless you don’t agree. In the netherlands they shoot with real bullet protester, in france 32 people has been blinded with police rubber ball in protest,… canada may think of the convey as a threat

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  6. >the sheer fact that you trade on crypto platforms- you can be considered a part of the larger terrorist cartel.

    What now? I think you may have this the wrong way round.

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  7. You have got to read the full story, mate. ILLEGAL funding was happening. Troublesome to say the least that so many international donations were being made. I love crypto, but it needs to be used for good!

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  8. Crypto is meant to be for peer2peer transactions. Not trading as a stock. I hope you loose your money. Treating it like a game instead of a revolution. Fkn children.

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  9. I agree with the government here for once. I’m Canadian and this ain’t no protest. These truckers are damaging our economy and disrupting the daily lives of many many people

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