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RE: Cryptocurrency And Politics: The Political Season Will Be Interesting

in LeoFinance3 years ago

In Canada I think it may become a left right issue because of the Freedom Convoy but I am hopeful. I just hope they don't regulate it to much more then it already is. We can already use crypto legally in Canada. There has been taxes on crypto since 2013. At that time it was considered a security but now they consider it a commodity because it has proven itself to be decentralized. I think the Freedom convoy was when they made it a commodity. It's taxed as Capital gains or income. Purchases are considered barter transactions because it's not legal tender. Mining is to a point, is tax free. Depends on how big your operation is. Canada has been slowly adding more regulation to crypto, the more the world accepts it and regulates it. Koho showing the regulation over the years. What the current laws are. Alberta has been aiming to become the crypto Capital of Canada for a while now. Doug Schweitzer, Alberta’s minister of jobs, economy and innovation has been working hard to make that happen. Since 2013 we have a coffee shop Remedy Café that takes Bitcoin, a crypto exchange/ATM BitNational and so much more that were developed over the years. In Quebec we have a mining Company called HIVE Blockchain Technologies, which made it very confusing when I first joined Hive because I can find more on them since they been around since 2017 but now Hive is the 3rd article with brave search in Canada. They even tried to sue for copyright infringement 2 years ago.