Bitcoin dealers grappling with big banks and murky financial rules

April 29, 2013 in Bitcoin, Currency, Digital Currency, Investing, Money

Joel Eastwood, The Canadian Press.  Sunday, April 28, 2013 (

OTTAWA — Canadians buying and selling an emerging digital currency are running afoul of established banks and operating in uncharted territory for financial regulators.

“The Canadian government doesn’t know what a Bitcoin is, doesn’t recognize the Bitcoin, and there’s no regulatory agency that knows what a Bitcoin is,” said Joseph David, the owner of VirtEx.

His Calgary-based website lets Canadians trade Bitcoins through an online market similar to a stock exchange. David said the two-year-old company facilitated $15 million in transactions this year.

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