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ARTICLE · 07 MAY 2024

Market Intelligence Thought Leadership Award Winner

Crypto Resource Update April 2024

McCarthy Tétrault
McCarthy Tétrault
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McCarthy Tétrault

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McCarthy Tétrault introduced several new resources this month which will be of interest to those of you working in the crypto asset space.

CanadaTechnology
TechLex Blog
TechLex Blog
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Lori Stein
Daanish Pasricha
Daanish Pasricha
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Christopher Yam
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McCarthy Tétrault introduced several new resources this month which will be of interest to those of you working in the crypto asset space.

Budget 2024: Financial Institutions Update

The 2024 federal budget includes tax reporting obligations for crypto asset intermediaries in respect of their customers and transactions. Budget 2024 proposes to implement the framework of the Organisation for Economic Co-Operation and Development (OECD) for the automatic exchange of tax information relating to crypto-asset transactions, referred to as the Crypto-Asset Reporting Framework (CARF), in Canada. The proposed framework will require certain crypto asset service providers that are resident or carry on business in Canada to collect and report information on an annual basis in respect of their customers and crypto assets transactions.

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