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Canada is keeping an eye on virtual currency, but doesn’t yet recognize Bitcoin as legal tender

20
Jan
2014

Bitcoin went mainstream in a big way in 2013, with banks and countries alike trying to figure out where the online cryptocurrency fits into the financial landscape. Canada is the latest country to make a formal statement, though the country doesnt sound like it quite knows what to do with Bitcoin just yet. Only Canadian bank notes and coins are recognized as legal tender in Canada, said an official from Canadas finance department in a statement sent to The Wall Street Journal. Bitcoin digital currency is not legal tender in Canada.

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