Cryptocurrency license in Canada
Even though cryptocurrencies are not legal tender in Canada, the country’s central bank experiments with token-based digital currencies. And it is possible that in the near future token-based digital currencies will be launched. As a result, many business owners have already started thinking about obtaining a cryptocurrency license in Canada.
Requirements
- According to the Financial Consumer Agency of Canada “goods bought utilizing crypto currency must be incorporated into the dealer’s income for tax purposes;
- As issuers of securities in Canada must conform to the necessities of protections enactment, which incorporates filing comprehensive exposure reports with protections controllers;
- Conform to revealing and record-keeping necessities;
- And others.
