I made this comment on CoinDesk, thought I would share it here as well. Any Canadians Bitcoiners out there, let's see if we can still influence the intepretation of this law:
This statement was published on CoinDesk in the article entitled What Canada’s New Regulations Mean for Bitcoin Businesses: "Generally speaking, if you sell any type of good or service for profit in the cryptospace, you may expect to be included as the definition of a dealer in digital currency."
I find that statement to be a bit presumptuous and probably totally inaccurate. If the law is interpreted in this way, it will be totally negative and drive Bitcoin use underground in Canada. The article isn't even clear who made this statement or on what basis.
I think the law will be interpreted to require MSB licenses for businesses that accept fiat deposits for Bitcoin/virtual currency, not businesses who who simply sell goods and services for Bitcoin (ie. merchants).
This will be a key distinction that will hopefully be made clear in the final law. We should dig through the gov't public forums and find out how to make our voices heard on this one.
