Here's how cryptocurrency is taxed in Canada....
"There's a huge community in Toronto and it's starting to spill into the real world with lots of cryptocurrency meetups and blockchain meetups."
According to the CRA, tax rules apply to digital currency transactions, including those made with cryptocurrencies. Using digital currency does not exempt consumers from tax obligations.
McCann says when you sell or exchange cryptocurrency and realize a profit, you have to report it for Canadian tax purposes, no matter where in the world the trading platform is, because Canadians are taxed on their worldwide income.
For most Canadians, this would mean reporting it on your personal return, claiming it as a capital gain, 50 per cent of which would be taxable."