StarlitFantasy
Sat Jun 08 2024
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7 answers
1777
Why is it so hard to buy crypto in Canada?｜The Canadian government has classified cryptocurrencies as commodities, meaning that while you can purchase, trade, mine, or interact with cryptocurrency, .it is not eligible to be a registered investment and transactions fall under the category of barter transactions
Why is it such a challenge to acquire cryptocurrency in Canada? Given that the Canadian government categorizes cryptocurrencies as commodities, does this classification restrict the ease of purchasing and trading? Does it mean that, while individuals can engage in the purchase, exchange, mining, or interaction with crypto, it lacks the status of a registered investment? Furthermore, how does the classification of crypto transactions as barter transactions affect the overall process of acquiring crypto in Canada?
SarahWilliams
Fri Jun 07 2024
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7 answers
1316
Why can't i buy crypto in Canada?｜The Canadian government has classified cryptocurrencies as commodities, meaning that while you can purchase, trade, mine, or interact with cryptocurrency, .it is not eligible to be a registered investment and transactions fall under the category of barter transactions
Why can't I buy cryptocurrency in Canada? It's puzzling to me since so many other countries allow it. Is it because the Canadian government has specifically classified cryptocurrencies as commodities? If so, what does this classification actually mean? Does it mean that while I can engage in activities like purchasing, trading, and mining cryptocurrencies, they are not considered registered investments? And are all transactions involving cryptocurrencies categorized as barter transactions? Could you please clarify these points for me?
