LIBRARY SFMCDec 26, 2021 · 3 years ago8 answers How does Canada's tax system treat profits from trading cryptocurrencies?
Can you explain how the tax system in Canada treats profits made from trading cryptocurrencies? I'm curious to know if there are any specific rules or regulations that apply to cryptocurrency trading and how it is taxed in Canada. Are there any differences in how profits from short-term trading and long-term investing are treated? And what about mining and staking rewards? I want to make sure I understand the tax implications before I start trading cryptocurrencies in Canada.