Some publicity has been given to a recent Texas judgment that held that Bitcoins were a form of money, and thus a scheme by which investors hoped to increase their holdings of bitcoins was subject to securities regulations.
Is there any doubt that a similar holding would be made in Canada?
It was not necessary to find that bitcoins were a form of money in order for the investment to be a security. I recall from law school days securities that promised gains from chinchillas, for example.
The holding that bitcoins were money was needed in that particular case because . . . [more]