Cryptocurrency Q&A
How is Bitcoin taxed in Canada?
How is Bitcoin taxed in Canada?
Nicola
Fri Mar 29 2024
|
6 answers
1379
I'm a bit confused about the taxation of Bitcoin in Canada. Could you please explain how it works? I understand that Bitcoin is a digital currency, but how is it taxed differently from regular currencies? Do I need to pay taxes on every transaction I make using Bitcoin, or only when I convert it to Canadian dollars? Also, are there any specific tax regulations or guidelines that I should be aware of? Thank you for your help.
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