The federal government's budget act for 2014 passed "first reading" on Friday. It will amend the money laundering regime to create a new category of money services business: "dealing in virtual currencies".
The budget is a whopper of an omnibus bill but the key amendment is at s. 256(2). It adds to the existing categories of regulated businesses (e.g. foreign exchange): "dealing in virtual currencies, as defined in the regulations". I expect the regulations to set a limit of somewhere between $1000 to $3000 for dealing without collecting identity documents.

