Bank of Canada Ponders Bitcoin Benefits Amidst Mounting Popularity

Bitcoin continues to catch fire in Canada, with the Bank of Canada (BoC) mulling the potential benefits of utilizing digital currencies, namely Bitcoin, despite its obvious inherent risks.
Canada has had a unique relationship with cryptocurrencies, notably Bitcoin. According to Canadian tax laws, salaries received in Bitcoin are viewed as barter income and taxed based on the equivalent in Canadian dollars, which led to a trend of employees receiving their salaries in Bitcoin.

This post was published at FOREX MAGNATES on November 14, 2014.

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Bank of Canada Ponders Bitcoin Benefits Amidst Mounting Popularity