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A Primer on Tax and Cryptocurrencies in Canada November 25, 2021 – The Canada Revenue Agency generally treats cryptocurrencies as commodities, not currency (the same goes for the U.S. Internal Revenue Service). Therefore, “any income from transactions involving cryptocurrency is generally treated as business income or as a capital gain, depending on the circumstances,” the CRA states. Read the report here. |
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Canada Needs a Loonie-Linked Digital Currency, Policy Experts Say* November 25, 2021 – “Canadian dollar-linked stablecoins could become attractive to Canadians by making them convertible into cash issued by the Bank of Canada, and ensuring that stablecoins are well designed and regulated from business conduct, competitive, operational, privacy and prudential perspectives,” wrote Mark Zelmer and Jeremy Kronick, the authors of the report. “*3iQ has a commercial relationship with VersaBank. Please review our disclosure below regarding third-party content and websites.” Read the report here. |
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Bank of Canada: Bitcoin Adoption and Beliefs in Canada November 26, 2021 – Gaining insights into why more people are adopting cryptocurrencies is increasingly important… Bank of Canada provides an analysis to better understand how three factors influence people’s decisions about Bitcoin adoption: network effects, individual learning and social learning. Read the report here. |
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Adidas Goes Full Metaverse With Coinbase Partnership and The Sandbox Real Estate November 27, 2021 – Sportswear giant Adidas set crypto Twitter ablaze on Wednesday evening with an announcement: “We’ve partnered with Coinbase”, before disingenuously concluding the tweet with a crypto meme reference; it’s “probably nothing”… Adidas currently has a parcel of land allocated to it in the Etheruem Metaverse game, The Sandbox. Read the report here.
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Decentralized Exchanges near $100 billion in Monthly Volume for November
November 28, 2021 – According to The Block’s Data Dashboard, the total for November is approximately $99.5 billion as of November 28. Monthly volumes have climbed since hitting a low for the year of $56.35 billion in July, with the November figure surpassing October’s $89.15 billion. Read the report here. |
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Versabank Expands Successful Closed Ecosystem Testing for Revolutionary Digital Deposit Receipts (DDRs)* November 29, 2021 – “VersaBank’s DDRs are a natural extension of our existing digital deposit services that, when placed on a public blockchain and supported by the security of the Bank’s own VersaVault digital asset security technology, become a completely unique, game changing, financial innovation.” said David Taylor, President and CEO, Versabank. “*3iQ has a commercial relationship with VersaBank and Stablecorp. Please review our disclosure below regarding third-party content and websites.” Read the report here. |
