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Canadian House Finance Committee Recommends Crypto Regulation to Prevent Money Laundering

The Canadian House Finance Committee has recommended that the government start regulating cryptocurrencies to prevent money laundering, Canadian digital newspaper iPolitics reports Nov. 14.

According to iPolitics, the Canadian House Finance Committee suggested that cryptocurrencies should be regulated during its review of the Proceeds of Crime Money Laundering and Terrorist Financing Act (PCMLTFA), which occurs once every five year.

Cryptocurrency regulation is increasingly becoming implemented worldwide, with the U.S.Securities and Exchange Commission (SEC) levying civil penalties this week towards two Initial Coin Offerings (ICO) for unregistered securities.

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