Canada: a country with negative digital currency regulation

1. The CFC classifies bitcoin and other virtual currencies as & quot; Commodities & quot; At the same time, each state has successively introced the digital currency regulatory laws and regulations to determine the regulatory framework of the digital currency instry.

2. ​ In recent years, the speculation related to virtual currency (such as ICO, IFO, IEO, IMO and STO) has been in vogue. The price has gone up and down, and the risk has gathered rapidly. Relevant financing entities raise funds from investors or virtual currencies such as bitcoin and Ethereum through illegal sale and circulation of tokens. In essence, they are illegal public financing without approval. They are suspected of illegal sale of token bills, illegal issuance of securities, illegal fund-raising, financial fraud, pyramid schemes and other illegal crimes, which seriously disrupt the economic and financial order

on September 4, 2017, the people's Bank of China and other seven ministries and commissions issued the "notice on preventing the financing risk of token issuance", which cleaned up the ICO and virtual currency trading venues. The scale of domestic virtual currency transactions decreased significantly, effectively avoiding the impact of virtual currency prices on China's financial market.

3. Germany, Japan, Thailand, if you want to buy, you can go to dabit exchange

4.

At the G20 meeting, different countries held different views on digital currency, some strongly resisted it, and some actively supervised it. Now let's take a look at the attitudes of the G20 countries towards digital currency

In a statement, the Canadian Securities Regulatory Agency (CSA) said that considering the whole process of ICO issuance, many ICO tokens meet the definition of securities and require them to comply with the securities law. In addition, the CSA noted that ICOS may also be derivatives, subject to derivatives laws passed by Canadian securities regulators, including trade reporting rules. Regulators said they welcome companies that are about to conct ICO to enter the "regulatory sandbox" to test new financial procts in a limited environment

India

the securities and Exchange Commission of India is planning guidelines for the regulation of the bitcoin market in India. In addition, the securities and Exchange Commission of India set up a financial regulatory commission and held meetings with Reserve Bank of India (RBI) officials. The SEC also plans to regulate whether bitcoin derivatives and other cryptocurrencies are used to raise funds illegally

5. The U.S. Commodity Futures Commission classified bitcoin and other virtual currencies as "bulk commodity" regulation, and states successively introced digital currency regulatory regulations to determine the regulatory framework of the digital currency instry.

6.

In August 2013, Germany announced the recognition of bitcoin's legal status. Then, in May 2016, Japan approved the digital currency regulation act for the first time, defining bitcoin as wealth. In addition, the United States and Canada recognized bitcoin separately

but we will find that bitcoin is still prohibited in our country. The main reasons are as follows

1, the particularity of bitcoin

therefore, for those countries with strong finance and easy to attract wealth, bitcoin is a sharp weapon, which is naturally included in the legal status

for us, bitcoin is an invisible damage to our country. It is not regulated, transfers assets and wealth, and hinders all kinds of criminal actions. And it also brings bad atmosphere, which makes people have speculative psychology

therefore, bitcoin in our country naturally needs to be banned< br />

7.

Hello, I'm glad to answer this question

money services business (MSBS) in Canada is subject to Canada's anti money laundering (AML) and anti terrorist financing (CTF) requirements. The Canadian regulator is fintrac. In addition to monitoring the instry, fintrac receives regular reports from licensed MSBS and issues updated instry regulations for the instry. If you do business in Quebec, you are also regulated by the Financial Markets Association (AMF). AMF is the Quebec government's regulatory body for the province's financial markets. In addition, as an organization collecting personal data, the office of the Privacy Commissioner of Canada will regulate your personal data practices. Instry members may also be subject to additional provincial requirements, depending on where you do business

if you are a money service company, you need to know all the obligations that apply to you. This includes registering your business with fintrac, reporting to fintrac, keeping records, identifying your customers, and having a compliance plan

if you conct business in Canada and provide the following services to the public, you are a money service:

foreign exchange transaction: you can convert one currency (US dollar to Canadian dollar) into another currency

fund payment: transfer funds from one person or organization to another by using electronic fund transfer network or any other method

cash or sell a money order, a traveler's check or anything similar: this may also include cashing or selling a traveler's check or anything similar. This does not include cashing checks to specific indivials or organizations

money services businesses (MSBS) in Canada are subject to Canadian anti money laundering (AML) and anti terrorist financing (CTF) requirements. The Canadian regulator is fintrac. In addition to monitoring the instry, fintrac receives regular reports from licensed MSBS and issues updated instry regulations for the instry. If you do business in Quebec, you are also regulated by the Financial Markets Association (AMF). AMF is the Quebec government's regulatory body for the province's financial markets. In addition, as an organization collecting personal data, the office of the Privacy Commissioner of Canada will regulate your personal data practices. Instry members may also be subject to additional provincial requirements, depending on where you do business

if you are a money service company, you need to know all the obligations that apply to you. This includes registering your business with fintrac, reporting to fintrac, keeping records, identifying your customers, and having a compliance plan

if you conct business in Canada and provide the following services to the public, you are a money service:

foreign exchange transaction: you can convert one currency (US dollar to Canadian dollar) into another currency

fund payment: transfer funds from one person or organization to another by using electronic fund transfer network or any other method

cash or sell a money order, a traveler's check or anything similar: this may also include cashing or selling a traveler's check or anything similar. This does not include cashing checks to specific indivials or organizations

8. Fintrac is the financial intelligence unit of Canada, which was established in 2000. It is an independent body that reports to the Minister of Finance and is responsible for the parliamentary activity center. It is headquartered in Ottawa. It is mainly responsible for collecting, analyzing, evaluating and disclosing relevant information of Canada's financial instry in order to protect Canada's financial stability and security
business scope:
foreign exchange transaction: you can convert one currency (US dollar to Canadian dollar) into another currency

funds payment: transfer funds from one person or organization to another by using the electronic funds transfer network or any other method

cash or sell money orders, traveler's checks or anything similar: this may also include cashing or selling traveler's checks or anything similar. This does not include cashing checks to specific indivials or organizations

Canadian license plate is applicable to both currency circle and foreign exchange circle

what should be prepared for license application<

financial business scheme design of MSB license

prepare and write application materials

submit the application for MSB license to fintrac

answer the questions raised by fintrac ring the application process

if fintrac requires us to provide other documents or relevant instructions, we will be responsible for writing and submitting them<

advantages of Canadian FTR MSB license

Canadian MSB is the license with the lowest processing fee among all domestic AA licenses

Canadian MSB does not need to pay deposit

Canadian MSB has fast licensing time

Canadian MSB has few complaints, Good reputation

Canadian MSB license is one of the few domestic AA licenses that do not need to pay a monthly fee

among all the AA regulatory licenses, Canadian FTR MSB license has the highest cost performance ratio, the lowest cost and the least negative. It is the best choice for all medium and large platforms to use advanced license in the middle and later period.

9. The divisor is 6 and the quotient is 4, so the divisor is
6x4 = 24
so the original correct number is 42
and the correct quotient is 42 ÷ 6=7