Cryptocurrency Q&A
Is it illegal to buy cryptocurrency in Canada?
Is it illegal to buy cryptocurrency in Canada?
Lorenzo
Mon May 13 2024
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7 answers
1823
I'm curious about the legality of buying cryptocurrency in Canada. Could you clarify if it's considered illegal or if there are any specific regulations that one should be aware of? I've heard conflicting information and want to ensure I'm operating within the law. Is it necessary to register with any authorities or obtain a special license? Also, are there any tax implications that I should take into account when purchasing cryptocurrencies in Canada? Thank you for your assistance in clarifying this matter.
7 answers
SeoulStyle
Wed May 15 2024
Businesses may choose to accept crypto at their own risk.
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Daniela
Wed May 15 2024
In Canada, cryptocurrencies are considered legal.
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SarahWilliams
Wed May 15 2024
This means individuals are free to buy and hold crypto.
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KabukiPassion
Wed May 15 2024
Nevertheless, cryptocurrencies are not recognized as legal tender.
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BlockchainBaron
Tue May 14 2024
But the CRA, the formal tax authority, does not accept it for tax payments.
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