A Canadian lawmaker is spearheading an international group of attorneys, professors, bitcoin businesses and supporters to publish the first bitcoin law book. It's possible Canada could become the first country to create federal bitcoin laws, though volatility, secure monetary exchanges, and criminal behavior must be addressed moving forward.
"I am thrilled to have the opportunity to write about the evolving law surrounding Bitcoin and other digital currencies said Chrstine Duhaime, Duhaime Law partner, in a press release. "As the US Federal Reserve noted only weeks ago, Bitcoin's disruptive technology may force banks and other financial institutions to adapt and change the way they provide services to consumers and it will open new markets for business all over the world. It's important that the law keeps pace with emerging technologies like Bitcoin and we are excited to be a part of the international dialogue on Bitcoin law."
Consumers and businesses are becoming more familiar with bitcoins, but governments are still unsure how to handle the popular cryptocurrency. There are a growing number of money laundering-related cases involving bitcoins, which police authorities are trying to clamp down. Meanwhile, the U.S. Department of Justice is working to learn more about bitcoins and any black markets available for drug dealers and money launderers.