CryptoGuru
Sat Jun 08 2024
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5 answers
1017
Is USDT banned in Canada?
Could you please clarify the current situation regarding USDT in Canada? I've heard rumors that it might be banned, but I'm not entirely sure. Is it illegal to use or trade USDT in Canada? Are there any specific regulations or restrictions that I should be aware of? Could you provide some insights into the legal framework surrounding cryptocurrencies in Canada, particularly pertaining to USDT? I'm interested in understanding the potential risks and compliance requirements for individuals who hold or transact in USDT within Canadian jurisdiction. Thank you for your assistance in clarifying this matter.
SeoulSerenitySeekerPeace
Sat Jun 08 2024
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5 answers
1059
Is USDT legal in Canada?｜. Some people view this as a ban for Canadian purchasing. The Ontario Securities Commission implemented the ban in 2021, although the exact rationale behind the ban was not explained.No it is not banned, but it is not approved by the CSA for fully regulated platforms
Is USDT considered legal tender in Canada?｜Some individuals interpret the situation as a prohibition on Canadians engaging in USDT transactions. It was in 2021 that the Ontario Securities Commission imposed this restriction, yet the specific reasons behind this ban remain undisclosed. However, to clarify, is USDT actually prohibited in Canada? Or is it merely not recognized or approved by the Canadian Securities Administrators (CSA) for use on fully regulated trading platforms?
CharmedWhisper
Sat Jun 08 2024
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5 answers
1172
Is cryptocurrency considered a foreign asset in Canada?｜CRA concluded that If those funds or intangible property were “situated, deposited or held outside of Canada,” then they should be classified as specified foreign property and thus subject to reporting.cryptocurrency was considered “funds or intangible property.”
Could you please elaborate on whether cryptocurrency is considered a foreign asset in Canada? It's mentioned in the CRA's conclusion that if certain funds or intangible properties are located, deposited, or held outside the country, they are categorized as specified foreign property and thus subject to reporting. Given that cryptocurrency is considered as "funds or intangible property," how does this fit into the Canadian tax and asset classification framework? Could you also provide some insight into the potential tax implications for Canadians holding cryptocurrency?
Federico
Sat Jun 08 2024
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6 answers
1063
What is the number one crypto exchange in Canada?｜Our crypto tax professionals conducted thorough research to identify and review as our picks of the best crypto exchanges in Canada. Coinbase is our top platform for Canadian crypto users, while WealthSimple is particularly suited to new Canadian crypto users.Bitbuy, Coinbase, and WealthSimple
Which platform do you consider as the leading crypto exchange in Canada? Given that your team of crypto tax professionals has conducted extensive research, could you elaborate on why Coinbase stands out as the top choice for Canadian crypto users? Additionally, how does WealthSimple cater specifically to new Canadian crypto investors? And what about Bitbuy? How does it fare in comparison to the other two mentioned exchanges?
KDramaLegendary
Sat Jun 08 2024
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6 answers
1571
How to buy USDT in Canada?｜Buy Tether in Canada in 5 Easy Steps Login with email and verify your information. Complete the payment using leading payment methods such as Credit Cards, Apple Pay, Google Pay, Bank Transfer and more to instantly receive USDT in your wallet.Input your Tether-supported wallet address.
How can I purchase USDT in Canada? Could you please outline the process in a step-by-step manner? Firstly, do I need to register an account with an email and verify my personal details? After that, what kind of payment methods are available for me to choose from? Are Credit Cards, Apple Pay, Google Pay, and Bank Transfer among the options? Finally, once the payment is completed, how do I ensure that the USDT is credited to my Tether-supported wallet address?
