Cryptocurrency Q&A

Daniele Fri Mar 29 2024 | 7 answers 1925

I'm somewhat confused about the regulatory status of Coinbase in Canada. As a platform that facilitates the buying, selling, and trading of cryptocurrencies, I'm wondering if it's subject to any specific regulations or oversight in this country. I understand that different countries have varying approaches to regulating cryptocurrencies and their associated businesses, so I'm hoping to get a clear understanding of how Coinbase operates within the Canadian legal framework. Can you please provide some insight into this matter?

GangnamGlitzGlamour Fri Mar 29 2024 | 6 answers 1584

I'm a UK taxpayer, and I have some offshore bank accounts. I'm just curious, can HMRC see my offshore bank accounts? I understand that HMRC has the authority to investigate my tax affairs, but does that extend to my offshore accounts? Are they able to access information about these accounts, or do I have something to worry about? I'm just trying to be proactive and make sure I'm complying with all tax regulations. Can you provide some clarity on this matter?

Giuseppe Fri Mar 29 2024 | 5 answers 881

Hello, I am not a US citizen but I am interested in cryptocurrencies. I have heard that Coinbase is a popular platform for trading and storing cryptocurrencies, but I am not sure if I can use it. Can you please clarify if non-US citizens can use Coinbase? If so, are there any special requirements or restrictions that I should be aware of? Thank you for your help!

EthereumEagleGuard Fri Mar 29 2024 | 6 answers 1040

I'm quite new to the world of cryptocurrencies, but I've been hearing a lot about them lately and am considering investing. One thing that's been puzzling me is the tax implications. I understand that crypto transactions are taxable events in most countries, but I'm not entirely clear on the details. So, my question is: how much crypto can I withdraw tax free? Are there any specific thresholds or exemptions that apply? Or do I need to pay taxes on every single crypto transaction I make, regardless of the amount? I'd appreciate it if you could provide some clarification on this matter. Thanks!

Sebastiano Fri Mar 29 2024 | 7 answers 1921

I've been hearing rumors that Kraken, one of the largest cryptocurrency exchanges, is about to close down. Is this true? It's really concerning if it is, as I have a significant amount of assets invested through their platform. Can you confirm or deny these rumors? If it is true, what will happen to my investments? Will I be able to withdraw my funds? And what about the other users? Will they also be affected? I'm really worried about this and would appreciate any information you can provide.