Vancouver is Considering Ban on Bitcoin ATMs in Fight Against Money Laundering
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Main page News, Bitcoin, Canada, Money Laundering, Regulations

Vancouver may ban bitcoin ATMs in the foreseeable future since police have called these machines “an ideal money-laundering vehicle,” The Star reports.

What is more important is that even Vancouver’s mayor has suggested the ultimate regulation measure. However, according to The Star, experts and businesses claim federal regulation is what’s really needed in this situation.

Christine Duhaime, a Vancouver lawyer who advises companies on how to avert financial crime and money laundering admits that Vancouver has definite connections to crypto-related crimes.

“But on the other side, it also (includes) legitimate businesses where they’re trying to get regulations to operate more legitimately,” she added.

Earlier this year, iHodl reported that the Canadian Revenue Agency (CRA) was investigating investors who had invested in cryptocurrencies such as bitcoin.

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