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thesirb (OP)
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July 19, 2013, 02:10:00 PM
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Hi,

I've had some trouble finding general information about Canada's rules on Bitcoin. I'm looking to sell bitcoins anonymously for cash through a website. I know in the U.S. this is pretty much not allowed but I was wondering if anyone had any insight into Canada? I realize I am not receiving legal advice but some insight would be helpful as I move forward.

Thanks!
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knight22
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July 19, 2013, 02:17:22 PM
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Basicly, Canada federal government says that bitcoin is not money so you don't have to comply with money laundering regulations  BUT you still need to pay your income taxes even if your revenues are in bitcoin.
(obviously you need to pay your taxes in fiat, not in bitcoin)
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thesirb (OP)
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July 19, 2013, 03:10:54 PM
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Quote from: knight22 on July 19, 2013, 02:17:22 PM
Basicly, Canada federal government says that bitcoin is not money so you don't have to comply with money laundering regulations  BUT you still need to pay your income taxes even if your revenues are in bitcoin.
(obviously you need to pay your taxes in fiat, not in bitcoin)

This was my understanding as well. Thanks!
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