Virtual currencies like Bitcoin fall into a cryptic regulatory gap in Quebec — Montreal Gazette

Many cryptocurrencies, including Bitcoin, remain in a legal grey area, treated as neither currency nor financial investments under both federal and provincial law. The Bank of Canada, which regulates currency, doesn’t consider cryptocurrencies to be money, Governor Stephen Poloz said in a Dec. 14 speech in Toronto, and therefore doesn’t regulate them. “The term ‘cryptocurrency’ is a misnomer;…

via Virtual currencies like Bitcoin fall into a cryptic regulatory gap in Quebec — Montreal Gazette