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Regulating cryptocurrency under Emergencies Act not as clear as Herr Freeland suggests

National Post: 'Controversial new rules enacted by the Liberal government under the Emergencies Act will require crowdfunding platforms holding money for illegal convoy protests to report any suspicious transactions, government officials said.


'That includes transactions exceeding $10,000,and those suspected to be tied to money laundering or terrorist activity...


'...Ryan Clements, chair in business law and regulation at the University of Calgary, said Fintrac already regulates money services like those that transfer Bitcoin into government-issued currency. That means services like Wealthsimple, Coinsquare or even Bitcoin ATMs are covered.


'But so-called self-custody of cryptocurrency — where individuals hold the keys to cryptocurrency themselves instead of relying on an intermediary — isn’t regulated. They key question is how the Canadian government could regulate that space, Clements said....'

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