Canada rules bitcoin is not legal tender: Report
The Canadian government has decided bitcoin is not legal tender in the country, The Wall Street Journal reported on Thursday.
"Only Canadian bank notes and coins are recognized as legal tender in Canada. Bitcoin digital 'currency' is not legal tender in Canada," a government official said in a statement to the paper.
The Journal reported that the Canadian government had thus far been quiet on the subject.
But while Canada was ruling that bitcoin was not valid, the U.S. government was going the other direction—seizing about $28 million worth of bitcoins from the Silk Road website.
The 29,655 coins were forfeited as part of a criminal investigation into Silk Road, the U.S. Attorney's Office in Manhattan said in a statement.
For more on the Canadian ruling from the Journal, click here.