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It is legal to trade cryptos in canada, but some banks have banned the digital currency.
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Bitcoin trading is gambling, canada's central bank governor told cnbc on thursday, adding that he was looking to work with global regulators to develop regulations around cryptocurrencies. Canada's tax laws and rules, including the income tax act, also apply to cryptocurrency transactions. Low liquidity in the order books. Yes, bitcoin mining is legal in canada. They are crypto but they are not currencies, poloz told cnbc during an interview at the sanctuary in davos.
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The canada revenue agency (cra) advises that canadian taxpayers need to pay taxes on their cryptocurrency activity.
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Cryptocurrency is a digital representation of value that is not legal tender.
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