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Why the government should regulate Bitcoin as a currency

August 23, 2018

It’s not hard to imagine a future where Canadians are using cryptocurrencies. We are quick to adopt new technologies. We already use digital transactions to pay for our goods and services. Banks are looking to digital platforms like blockchain for their business operations. Alternate payment methods from loyalty points to pre-paid digital tokens are used for everything from buying your morning coffee to paying for your afternoon commute.

DBMC Media Release

April 13, 2018

TORONTO, ON, April 13, 2018// - Two former Canadian politicians are using their legislative know-how to call on Ottawa lawmakers to recognize bitcoin as a currency in Canada.

 

Jason Dearborn and Andrew Thomson operate Toronto-based Dominion Bitcoin Mining Company Ltd. (DBMC). DBMC offers a unique, proprietary solution for investors to acquire and store bitcoin in a way that complies with Canadian law that is safe and secure.

 

As a company that operates under Canadian law, DBMC is the first company to call on the Government of Canada to amend the Bank of Canada Act and officially recognize and treat bitcoin as a currency.

Former politicians push Ottawa to declare bitcoin a currency

April 13, 2018

DBMC Chairman Jason Dearborn and Board Member Andrew Thomson were profiled in The Globe and Mail for the company’s submission to the House of Commons Finance Committee regarding the five-year review of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

 

In the submission, DBMC calls on the federal government to recognize bitcoin as a currency in order to better protect Canadian investors. The company argues inconsistent rules can lead companies to hop between jurisdictions in order to take advantage of loopholes.

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July 19, 2018

Have You Got a Hot Wallet?

Crypto is all about the private key. Where is it? Who has access to it? Smart people hold their private key offline, it’s COLD. When they plug it into the internet, it becomes HOT again. You’ve got a hot wallet.


Cold storage is complicated. Ultimately, it’s only a tactic, and a tactic without a strategy is prone for failure. Even COLD wallets may be HOT if they have been tampered with, meaning the moment you plug it into the internet your currency is stolen.
 

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