• About
  • Offices
  • Careers
  • News
  • Students
  • Alumni
  • Payments
  • EN | FR
Background Image
Bennett Jones Logo
  • People
  • Expertise
  • Knowledge
  • Search
  • FR Menu
  • Search Mobile
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
View all
Practices
Corporate Litigation Regulatory Tax View all
Industries
Capital Projects Energy Funds & Finance Mining View all
Advisory
Crisis & Risk Management ESG Strategy and Solutions Governmental Affairs & Public Policy
View Client Work
International Experience
Insights News Events New Energy Economy Series
Business Law Talks Podcast Economic Outlook Class Actions: Looking Forward Quarterly M&A Insights
ESG & the CIO Subscribe
People
Practices
Industries
Advisory Services
Client Work
About
Offices
News
Careers
Insights
Law Students
Events
Search
Alumni
Payments
Subscribe

Stay informed on the latest business and legal insights and events.

LinkedIn LinkedIn Twitter Twitter Vimeo Vimeo
 

Global Legal Insights on Blockchain and Cryptocurrency Legislation

September 24, 2018

Download PDF

     
Download PDF Global Legal Insights on Blockchain and Cryptocurrency Legislation

Written By Conrad Druzeta, Simon Grant, Matthew Peters and Ceilidh Hemmati

Conrad Druzeta, Simon Grant, Matthew Peters and Ceilidh Hemmati author the Canada chapter in Global Legal Insights‘ Blockchain and Cryptocurrency Legislation 2019. They provide a detailed look at key areas of blockchain and cryptocurrency legislation:

  • Government attitude and definition
  • Cryptocurrency regulation
  • Sales regulation
  • Taxation
  • Money transmission laws and anti-money laundering requirements
  • Promotion and testing
  • Ownership and licensing requirements
  • Mining
  • Border restrictions and declaration
  • Reporting requirements
  • Estate planning and testamentary succession

Conrad, Simon, Matthew and Ceilidh’s insights include:

The general attitude of the Canadian government (including regulatory agencies) to cryptocurrencies has been a mix of caution and encouragement: caution in terms of protecting investors and the public, but encouragement in its support of new technology.

The Canadian government itself is also experimenting with blockchain technology.

For taxation purposes, cryptocurrencies are treated as commodities, not as money. Under securities laws, many cryptocurrencies or “tokens” are classified as securities.

Cryptocurrencies are not treated as legal tender in Canada. Despite this, the Bank of Canada tested Digital Depository Receipts (DDR) as a digital representation of Canadian currency in 2016 and 2017.

Project Jasper was a joint initiative between the public and private sector, conducted by the Bank of Canada and Payments Canada with the help of banks and corporations (such as R3). Together, they built and tested a closed, simulated payment system to better understand the potential for blockchain to augment or displace FMI. Project Jasper marked the first ever DLT experiment in which a central bank partnered with private financial institutions.

Key Contacts

  • Simon  Grant Simon Grant, Partner
  • Ceilidh R. Hemmati Ceilidh R. Hemmati, Partner

Our Managing Partners on Workplaces Where Women Thrive

Related Links

  • Insights
  • Media
  • Subscribe

Related Expertise

  • Banks & Financial Institutions
  • Fintech
  • Tax

Recent Posts

Updates

Class Actions: Looking Forward 2023

June 01, 2023
       

Speaking Engagements

Advising Tech-Enabled Startup Companies

May 30, 2023
       

Articles

U.S. and Canadian Cross-Border Transactions: U.S. Governing Law and Unique Deal Terms

May 29, 2023
       

Speaking Engagements

Building B.C.'s ESG Advantage

May 26, 2023
       

Articles

ESG: A Catalyst for Economic Development

May 25, 2023
       

In The News

Decarbonizing the Economy in Canadian Infrastructure

May 24, 2023
       

In The News

Rising Costs, Supply Issues and the Need for Skilled Labour in Infrastructure

May 24, 2023
       

In The News

Will Osler Joins Launch of Official Boot of Calgary Stampede

May 24, 2023
       

In The News

Striking the Balance Between Price Stability and Financial Stability

May 19, 2023
       
Bennett Jones Centennial Footer
Bennett Jones Centennial Footer
About
  • Leadership
  • Diversity
  • Community
  • Innovation
  • Security
  • History
Offices
  • Calgary
  • Edmonton
  • Montréal
  • Ottawa
  • Toronto
  • Vancouver
  • New York
Connect
  • Insights
  • News
  • Events
  • Careers
  • Students
  • Alumni
Subscribe

Stay informed on the latest business and legal insights and events.

LinkedIn LinkedIn Twitter Twitter Vimeo Vimeo
© Bennett Jones LLP 2023. All rights reserved.
  • Privacy Policy
  • Disclaimer
  • Terms of Use
Logo Bennett Jones