[LannisterDebt]

> I believe Canada has something like 20% tax on the profits you get out of cryptocurrencies for the year, which I think is a much simpler system that makes much more sense.

This is wrong. Canada is taxed very similarly to USA meaning if it's an investment it may be capital gains and if it's a business then it's income.

[jeromegv]

I'm always impressed by how people make up statements online without any kind of research that would take less than 30 seconds. No Canada has no special tax rate for cryptocurrency, what kind of non-sense is that.

[aianus]

In Canada, capital gains are taxed at 50% of ordinary income, unlike the US where short term capital gains are taxed as if they were 100% ordinary income.