MUST KNOW Crypto Laws in CANADA for Bitcoin Investors (Your Taxes, Identity and Transaction Records)
If you’ve begun investing in cryptocurrencies like Bitcoin and Ethereum in 2020 or 2021, you need to make sure you know your rights and obligations pertaining to these transactions under Canadian law. In this video I take you through the different rules in place for regulating crypto in Canada, including taxation, anti-money laundering record keeping and identification, asset division in divorce, inheritance and wills, and crypto regulation as securities by securities commissions in Canada.
As blockchain is a new and emerging technology, the law continues to evolve in this area and you should stay informed about what you must do to comply (for example whether your profits from crypto sales count as capital gains or business income), as well as knowing what information others (like cryptocurrency exchanges or dealers) must provide you. You also want to know what information is being kept and recorded about your identity and transactions by Money Services Businesses (MSBs) under Canadian law.
How crypto is taxed in Canada (0:45)
How your transactions are recorded for anti-money laundering purposes (17:19)
How crypto is dealt with in divorce (18:31)
Crypto and wills and estates (inheritance) (19:37)
Crypto regulation by Securities Commissions (20:35)
This video contains legal information ONLY. The information is not advice and should not be treated as legal advice on any subject matter. If you require legal advice, contact and retain a lawyer in your jurisdiction. Any claims or applications of the information about tax law or otherwise discussed in this video are not intended to be statements of fact. All applications of legal information herein are hypothetical for the purpose of education.
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