Obligations And Opportunity - Budget 2024's Impact On The Blockchain Industry

Goodmans LLP

As crypto-assets become subject to further regulation both domestically and globally, industry players find themselves presented not only with new obligations but also with new opportunities.

CanadaTechnology

Colin Romano

Francesca Guolo

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As crypto-assets become subject to further regulation both domestically and globally, industry players find themselves presented not only with new obligations but also with new opportunities. Canada's 2024 federal budget ("Budget 2024") is no exception to this trend.

Although the headline news coming from Budget 2024 was the proposed increase to the capital gains inclusion rate, companies operating in the blockchain space have more targeted changes to contend with. In particular, Budget 2024 proposes new reporting requirements for transactions in crypto-assets while also raising the possibility that "crypto-backed assets" could become qualified investments for registered plans. We explain these two developments in more depth below.

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The content of this article does not constitute legal advice and should not be relied on in that way. Specific advice should be sought about your specific circumstances.

Obligations And Opportunity - Budget 2024's Impact On The Blockchain Industry

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