The Québec regulatory agency that oversees Canadian financial markets has enacted new policies that mandate virtual currency ATM operators and virtual currency trading platforms obtain a license.
The Autorité des marchés financiers (AMF) has amended its Policy Statement to the Money-Services Business Act to apply to select bitcoin businesses operating in the jurisdiction. The AMF stressed in its formal announcement, however, the licensure does not indicate that it is regulating the bitcoin industry.
The statement seems to have caught members of the local bitcoin community off guard given that Canada has been working toward regulating bitcoin on the federal level, a process that has been spearheaded through an 18-month Senate study due to be released this year.
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