Uncovering Canadian Cryptocurrency Challenges - 2021

Webinar will be presented by Jack Bernstein, Saam Nainifard and Donald B. Johnston

Encrypted digital currencies - or cryptocurrencies - have risen in popularity as the world of international commerce moves faster than ever. Our society is increasingly digital and cryptocurrencies continue to gain support in government, business and personal financial transactions. But what are the laws and regulations that govern their use? While the Canada Revenue Agency does not consider cryptocurrency tokens legal tender, but rather a commodity governed under personal property security law, are they even the holder’s personal property at all?

Join 3 members of the Tax and Technology Groups at AirdBerlis  as they break down the use of cryptocurrency and discuss its challenges within Canada and internationally. Learn about the taxation of cryptocurrency assets and how to comply with the tax laws in this rapidly developing area.

Income vs capital gains Compensation Applicability of withholding taxes, exit tax, tax on death and foreign reporting Compliance and documentation obligations Review of Coinbase case study How to handle an audit Impact of cryptocurrency on the practice of law Initial coin offerings: securities or not? Decentralized finance (DeFi) and use of smart contracts