*sigh* I want to kill you all for being so stupid. THIS IS NOT A FUCKING "BITCOIN LAW", IT'S REGULATION FOR EXCHANGES ONLY.

How can these fuckers regulate something that is beyond there jurisdiction. .....

I thought that was a main reason to operate in bitcoin. ....

IF people abide by their regulation then they can regulate...similar to how we have consented to their other registrations etc ...only this time, we know better :D

I get that it's an attempt to set a precedent..... yes we all apparently know better

*sigh* IT IS IN THEIR JURISDICTION! THEY ARE REGULATING EXCHANGES!

Why don't you try FUCKING READING THE THING!

I did read ..... from what I gather .... they are getting banks and accountants to enforce this policy..... let me read it again before my shit stain gets worse

ALL of it has to do with EXCHANGE. NOT COMMERCE!

I don't entirely think I understand..... is this an attempt to create joinder through the use of bitcoin ..... it certainly seems to rely on folks registering and rating on others who have not registered

Rating = ratting

Exchange An association, organization, or group of persons, incorporated or unincorporated, that constitutes, maintains, or provides a marketplace or facilities for bringing together purchasers and sellers of Securities or commodities futures. A security is a written proof of ownership of an investment, usually in the form of shares of stock, which are fractional units of ownership in a company. Commodities are raw materials, like wheat, gasoline, or silver, that are sold either on the spot market, where cash is paid "on the spot," or through futures contracts, where a price for a contract is set in advance, not to be changed even if the market price for the commodity increases or decreases by the time the contract comes due.

Thank you Scott I am now facing the program that makes me too lazy to read these weasel words ..... I'll be a few minutes in the reprogramming and the remainder of the evening trying to make sense of these weasel words

256. (1) Paragraph 5(g) of the Act is replaced by the following: (g) persons and entities authorized under provincial legislation to engage in the business of dealing in securities or any other financial instruments or to provide portfolio management or investment advising services, other than persons who act exclusively on behalf of such an authorized person or entity; 2006, c. 12, s. 3(1) (2) Paragraph 5(h) of the Act is replaced by the following: (h) persons and entities that have a place of business in Canada and that are engaged in the business of providing at least one of the following services: (i) foreign exchange dealing, (ii) remitting funds or transmitting funds by any means or through any person, entity or electronic funds transfer network, (iii) issuing or redeeming money orders, traveller�s cheques or other similar negotiable instruments except for cheques payable to a named person or entity, (iv) dealing in virtual currencies, as defined in the regulations, or (v) any service described in regulations made under paragraph 73(1)(a); (h.1) persons and entities that do not have a place of business in Canada, that are engaged in the business of providing at least one of the following services that is directed at persons or entities in Canada, and that provide those services to their customers in Canada: (i) foreign exchange dealing, (ii) remitting funds or transmitting funds by any means or through any person, entity or electronic funds transfer network, (iii) issuing or redeeming money orders, traveller�s cheques or other similar negotiable instruments except for cheques payable to a named person or entity, (iv) dealing in virtual currencies, as defined in the regulations, or (v) any service described in regulations made under paragraph 73(1)(a)

"dealing in virtual currencies, as defined in the regulations, or" Gee, can they Vague that up a little?

(2.1) If the person or entity determines that it is dealing with a person described in paragraph (1)(b) or (c) and considers, based on an assessment referred to in subsection 9.6(2), that the person poses a high risk of committing a money laundering offence or a terrorist activity financing offence, the person or entity shall obtain the approval of senior management in the prescribed circumstances and take the prescribed measures.

...because cryptographic currencies are TERRORIST currencies!

Now I'm going to have to look up what they define terrorist as..... that's a broad spectrum

It's funny how so many things being deregulated in that bill C-31 but they want to regulate crypto into a corner and are threatening violence

A terrorist is anyone who is not them.

Fuck why does almost every definition use the word they are trying to define !!!!! Fuck