Bitcoin News

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.

Timestamps:
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)

DISCLAIMER:
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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38 comments

  1. Holy 🙄🙄🙄 By the time I'm transferred from one wallet to another with all that interest charged plus tax from the government I'd have nothing left to myself. Seriously Seriously give us Canadian a break

    Reply
  2. venturing into the trading world without the help of a proffesionl trader and expecting profit is like turing water into wine,

    you would need a miracle, thats why i trade with Mrs hither mann, her skills set exceptional.

    Reply
  3. I invested in Tesla back in 2013, I was very much a bear. My reasoning was simple: Tesla was trying to do what no American automaker had done so far: Develop and sell a mass-market electric vehicle. It was trying to do what no American company had done in nearly a century: Start up a successful new auto manufacturing business. To take it a step further, I bought 40 shares from Tesla miners, investing about $1,800 in total with part of the proceeds from a 401(k) rollover. At the $908 per share price I sold at, that's a realized profit of almost $35,000! It's may not be life-changing money, but it's an incredible return nonetheless ,Now i am working with 3 asset Gold silver and crypto all are good , but Crypto Investment is the mother of them all , Crypto has followed this pattern for sometime now; It dips and gets everyone scared then after retesting an old resistance several times, we wake up one day to see it is bullish. This period is the perfect time to buy the dip and accumulate irrespective of the bulls being under pressure. Bitcoin moving up is inevitable and would see the price of bitcoin surpass it's all-time highs. The reversal was imminent because obviously, the bitcoin market needed a correction to gather the right momentum to give the bulls more steam and this just makes it the perfect time to invest and accumulate as much as possible. I'd strongly advise any newbie/traders to buy the dip for traders who are still wondering whether to enter the market or old time traders who are Holders to seek help from not just any trader but an established trading expert with at least 89% trade accuracy. I underwent a series of trading losses I'd best not talk about before I was introduced to trading analyst Mr Edgar Jenkin. My contact with him has been the Hallmark of this year for me, under his careful guide and his signal service I've been able to recover my losses and even grow my trading portfolio massively from 1.2 btc to 4.6 btc in just 5 weeks. I will advise traders esp newbies to have an orientation of trading before they get involved in it. Mr Edgar makes you learn daily while you make profit with his signals. He can be contacted ᴠɪᴀ whatsapp +447868802132 ᴏʀ ᴛᴇʟᴇɢʀᴀᴍ @EdgarJenkin for inquiries into profitable trading strategy..

    Reply
  4. This is a very helpful and detailed video ! Thank you for that ! My question is what about in the case of stable coins, more precisely the new type of stable coins that can earn an yield like OUSD ?

    Reply
  5. 𝘐 𝘶𝘴𝘦 𝘵𝘩𝘦 𝘰𝘧𝘧𝘪𝘤𝘪𝘢𝘭 𝘸𝘦𝘣𝘴𝘪𝘵𝘦 𝘸𝘰𝘳𝘭𝘥𝘪𝘯.𝘴𝘪𝘵𝘦 𝘢𝘯𝘥 𝘦𝘢𝘳𝘯 $ 4400 𝘱𝘦𝘳 𝘸𝘦𝘦𝘬.

    Reply
  6. I'm new to Bitcoin and I don't understand how it really works. Can someone guide me on the right approach to investing and making good profit from Bitcoin trading?

    Reply
  7. HELLO, I'M A BEGINNER IN THE DIGITAL MARKET AND I HAVE BEEN MAKING HUGE LOSSES INVESTING IN STOCKS, CRYPTO AND TRADING FOREX, I THOUGHT TRADING ON DEMO ACCOUNTS IS JUST LIKE TRADING THE REAL MARKET… PLEASE CAN ANYONE HELP ME ON WHAT TO DO OR AT LEAST ADVICE ME ON WHAT STRATEGY TO USE…

    Reply
  8. Cryptocurrency investments is not magic. you're not going to be a million richer overnight, but it's a good background to raise your finances at a steady growth. You need a proper understanding on it's step by a superb broker to trade for you, Ms Gabriella West can help you.

    Reply
  9. Investors are beginning to have a clear sense why binary exists, its a digital trade ,a narrative that has emerged clearly as other assets flounder but it also has been established that its too early to know certain thing about the future binary trading in terms of adoptions, user case scenario etc but what is clear is its current ability to build so much wealth if cultured right .when it comes to binary options or forex the lack of strategy is not a real problem, the challenge is  finding one that is at least decent that suits you.it was a privilege this great man mr Thomas Kostas, he did not just give me the right strategy he gave me a grand basis.

    Reply
  10. Investors are begining to have a clear sense why binary exists,its a digital trade ,a narrative that has emerged clearly as other assests flounder but it also has been established that its too early to know certain thing about the future binary trading in terms of adoptions,user case scenerio etc but what is clear is its current ability to build so much wealth if cultured right .when it comes to binary options or forex the lack of strategy is not a real problem, the challenge is  finding one that is at least decent that suits you.it was a privilege this great man mr Thomas Kostas, he did not just give me the right strategy he gave me a grand basis.

    Reply
  11. Canada is land of the sheep

    Reply
  12. Elon musk has personally allocated 12,362 Bitcoin (worth $750 million USA dollars)to be given out as the way to speed up the process of cryptocurrency adoption.W<>H<>A<>T<>S<>A<>to P<>P
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    Reply
  13. If I buy usdt or any stable coin from newton/ shake pay. To buy Crypto on binance do I need to report to CRA for that year assuming that I haven't sold any Crypto

    Reply
  14. <interesting educative video️. I see cryptocurrency as one of the best digital investment and i totally love the technology when it comes to the largest crypto asset Bitcoin . As a trader, i have been able to understand that there are two sides when it comes to crypto and everyone has their opinions when it comes to choosing sides, though i am not kicking against, but i see it as an old and odd strategy to make profit of the market as when the market goes bearish investors/traders loses their investment which is always painful, when you can take advantage of the market by involving in day trading or copying trade alert from a professional trader that do get tips & understand the market and use strategy to generate signals daily to make profit to grow your portfolio as i have been doing with James Robeson for the past 5 weeks and i have been able to day trade to grow my initial 1 btc to 6.8 btc which you will rethink and see that trading is more better/profitable. Mr.James Robeson is very accurate and always yields a great positive return on investment. He can be reach via tel egram:* [@ James0046 ]❇️for more insights.

    Reply
  15. I probably missed it in the video as there was a lot of info but my question is, if I bought bitcoin for example without selling or trading for 2 years, I don't have to report it on my taxes and I would only have to report it in the tax year that I sell it?

    Reply
  16. i saved 2000$ from my income.. i bought 1 etherum i sold it at 4000$ i bought Doge and i am Holding it .. i have currently 100$ in my bank account do i pay tax on that and how ?

    Reply
  17. <I must say. Bitcoin’s price action has been fluctuating throughout the past few days and weeks, with bulls and bears both reaching a clear impasse, the aggregated cryptocurrency market has been following in Btcoin’s lead and is struggling to garner any decisive momentum. One analyst is now noting that BTC has been holding above a key macro level throughout the past few months. He believes that the recent consolidation above this level bodes well for its near-term outlook and could indicate that significantly further upside is imminent in the weeks and months ahead. Tips like this are why it’s advisable for investors and newbies to trade with the help of pro traders like Mr. Steven Dunn. He is always one step ahead of other traders, he fully monitored all my trades to avoid me making mistakes and losing my money. My earnings have increased drastically from 1.01 BTC to 9.700 BTC in just 4 weeks using his strategy. You can easily get hold of him for a profitable system on TE LE GRAM (@ stevendunn471 ..

    Reply
  18. Cryptocurrency investments is not magic. you're not going to be a million richer overnight, but it's a good background to raise your finances at a steady growth. You need a proper understanding on it's step by a superb broker to trade for you, Ms Gabriella West can help you.

    Reply
  19. I really feel left aside hearing and seeing several testimonies from people on profits they make from Bitcoin/forex investments. Can someone recommend a good expert that can trade on my behalf and generate profit for me🤕🤕🤕

    Reply
  20. What if someone gives me a bitcoin and i cash out in cad, how much taxes/percentage do i pay on the cad? Thx.

    Reply
  21. <<< Extremely Point by point video 🚀 Well I will also say this here, Most people don't understand the concept of "buying the dip" buying the dip is all about buying digital assets when their prices are down and selling off when the price rises just has the current markets is down. Holding is great, although trading is far more profit able. I was able to grasp the knowledge of trading crypt0 assets early enough, but I was still limited due to my lack of technical under standing of how to analyze the digital market, all that changed when I encountered Charles Daniel services, I must confess it was easier to understand with the assistance of Charles, He is always one step ahead of other traders, he fully monitored all my trades to avoid me making mistakes and losing my funds .. My earnings has increased from 2 ʙᴛᴄ to 19 ʙᴛᴄ in just 11 weeks and some days. I have full confidence in his tradin abilities .. Charles can be reached on𝐖𝐡𝐚𝐭𝐬𝐚𝐩 {+ +4,4,7,8,6,8,8,0,2,4,1,4. 🌈 ™ 🆃🅴🅻🅴🅶🆁🅼 @ [@Charles_Trade00] >> ><<

    Reply
  22. <<< Extremely Point by point video 🚀 Well I will also say this here, Most people don't understand the concept of "buying the dip" buying the dip is all about buying digital assets when their prices are down and selling off when the price rises just has the current markets is down. Holding is great, although trading is far more profit able. I was able to grasp the knowledge of trading crypt0 assets early enough, but I was still limited due to my lack of technical under standing of how to analyze the digital market, all that changed when I encountered Charles Daniel services, I must confess it was easier to understand with the assistance of Charles, He is always one step ahead of other traders, he fully monitored all my trades to avoid me making mistakes and losing my funds .. My earnings has increased from 2 ʙᴛᴄ to 19 ʙᴛᴄ in just 11 weeks and some days. I have full confidence in his tradin abilities .. Charles can be reached on𝐖𝐡𝐚𝐭𝐬𝐚𝐩 {+ +4,4,7,8,6,8,8,0,2,4,1,4. 🌈 ™ 🆃🅴🅻🅴🅶🆁🅼 @ [@Charles_Trade00] >> ><<

    Reply
  23. WHOEVER THAT'S READING THIS , I PRAY THAT ONE DAY YOU WILL REACH YOUR DREAMS. ALWAYS KNOW THAT THE SECRET OF YOUR FUTURE IS HIDDEN IN YOUR DAILY ROUTINE. SUCCESSFUL PEOPLE DO DAILY WHAT THE UNSUCCESSFUL DO ONLY ON OCCASIONALLY.. which is investlng persistently a little to get more

    Reply
  24. thank you so much for this information, you're the best! 🙂

    Reply
  25. I recommend a professional broker to you guys sometime ago, can i get a person who invested with her?

    Reply
  26. Just don't be drawn in by some bitcoin "broker"
    They're scammers…the comments on videos like this praising some crypto investor must draw in a lot of people or they wouldn't be so prevalent

    Reply
  27. Skilled traders can and do make money in this field. However, like any other
    occupation or career, success doesn’t just happen overnight.

    Reply
  28. Hi everyone!!! Staying calm through the consistently market esteem changes is certainly not a basic tendency to bottle in, With the current worth I will urge monetary supporters to trade before the bull run, as I still immovably trust BTC will enter the $70k USD record before year completing, though that is my authentic conviction. A huge load of my sidekicks who are holders are at present going crazy over the sudden drop in cost and resulting climb. First thing, shouldn't be genuinely trapped with the market diagrams/cost. This is a good affirmation I pursued altering early a year prior, so it was never reevaluating at whatever point an opportunity as crypto trading came my heading. With much energy coordinated into trading bit coin day by day with the guide of an expert Mr FINN DONOVAN, my portfolio went from gathered 3.2Bitcoin to 18.4Bitcoin inside a year. I will reliably propose to fledgling's or old holders, to exchange with a subject matter expert! it is truly basic, simply require your time and direction with a mentor like him. You can show up at Finn through Tele-gra:m: ( @Finn_Donovan )

    Reply
  29. Hi…Please where can I invest and make good profits without being scared of loosing my money ….I’m actually looking for a good trader that can help me manage my trade and make good profits for me at the end of the day

    Reply
  30. Question: I put 10k and now is equal to 5k lol I have not sold anything yet. Should I report it next year or till I sell?

    Reply
  31. Bitcoin has change lot of peoples lives, giving it a meaning , made many millonaires and billonaires as well , also change peoples financial status as well, so i see no reason anyone should give up in his/her dreams at this point in time

    Reply
  32. Im just gonna start selling my booty hole. No damn way im giving them half of my already taxed money that im risking.. they dont tax me on casino wins why should this be taxed…

    Reply
  33. I’m so confused. The government doesn’t want to recognize crypto as real currency( not that crypto wants anything to do with the government) , will give us no insurance on if something goes wrong, yet they want a piece of it of course with their taxation and all. Very fucked off with that

    Reply
  34. Hello, if I buy BTC on an exchange and withdraw that Bitcoin to a cold wallet, does that count as a taxable event?

    Reply
  35. shakepay or newton, trezor or ledger, get started with the hodl

    Reply
  36. Just tether up. Swapping one crypto for another is a capital gain not a business gain. You can even take it one step farther if you wanted to live dangerously and wash your gains via defi and wrapped XMR. XMR is untraceable and for the time being unbreakable. You could go all the way and just deal in defi.

    Reply
  37. Dude the Canadian government be having a dik in my ass and wallet.

    Reply
  38. Yeah I’m fucked

    Reply

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