BTC Compliance and ICO expertise

Compliance for the Canadian Market

Canada-Leaf-Free-PNG-ImageBitcoin and others cryptocurrencies are something quite new to the taxman and others federal regulatory boards and agencies.

Currently, legislation is still at the developmental stage and so are money-laundering-related laws and regulations. Some announcements were made in the 2014 Canadian federal budget, and we may soon expect new compliance laws and by-laws.

Regarding tax matters, Canada Revenue Agency is expected to apply the “Barter rule” for any businesses made with Bitcoins.

Regarding statutory compliance, you may need to determine if your BTC business is a Money Service Business (MSB). In this case, you may need to file with FINTRAC accordingly.

Also, ICO expertise is part of what our law office may offer you.

Our law firm provides comprehensive expertise, for any Canadian business that wishes to comply with its compliance duties and tax filings.