Ontario restricting Crypto - *** Important - PSA****
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Not just Ontario. Its Canada Wide. Due to a Supreme court decision. Really it's about regulation for taxation purposes. KuCoin Kraken and others are following suit.
We have until December 31st to transfer out. You can still place them securely in wallets. And transfer without problems.
And I expect others will open their doors to us in the coming days. So get a good VPN, use TOR browser. And don't panic. We have almost six months(I plan to transfer Dec 1st) to figure it out.
We have until December 31st to transfer out. You can still place them securely in wallets. And transfer without problems.
And I expect others will open their doors to us in the coming days. So get a good VPN, use TOR browser. And don't panic. We have almost six months(I plan to transfer Dec 1st) to figure it out.
And registered so just fine. You can buy through them and transfer to dedicated wallets. But when you cash out through them it gets reported to CRA.
Right now I think they only report transactions over $20000 total in a year.
I like them. Fast transactions. Reasonable pricing.
Is it my imagination, or is this government just interfering more and more in our lives? It is starting to get ridiculous. Forget defunding the police. Defund the governments.
Honestly it was always coming. Regulation isn't a bad thing in the long run. It greatly reduces fraud(we had it here, and 3.6 billion in BTC just was stolen on an SA exchange).
They are giving 6 months notice to sort your shit out. So do it.
They are giving 6 months notice to sort your shit out. So do it.
They already do. I have no problem with that. Much the way we now have to pay HST on a Netflix subscription. What I resent is closing down platforms and ramming crappy Canadian content down my throat. Making advertising sexual services legal, but buying them illegal. Not being able to accurately pay people (Phoenix). Regulating what can and cannot be said or used on the internet, yet gouging us for said services and funding the CRTC and the CBC. Fucking up hydro beyond belief so we pay debt retirement and delivery fees and charge us HST on top of that to add insult to injury. Allowing foreign investment in the real estate market to spiral so far out of control that Canadians making $60k a year have to live in undesirable areas to afford a small home. Then there is the 407. They give themselves a drug dealing monopoly and f**k that up too. Now that single game betting will be legal, I can't wait to see how they f**k up a sportsbook.
I make good money and have reasonable savings but I am not wealthy, yet I am seriously considering leaving Ontario and possibly Canada. I work remotely for 12+ years for an international company with a market cap approaching 75 billion, so I have options. I am lucky. Millions of Canadians are not. This government is useless.
Ontario is governed by Doug Ford but I can see the righties blaming the Liberals. you know somehow it's Trudeau's fault.
Well... righties and lefties have it wrong. Start replacing the words Liberal and Conservative with the word "Government"... then most complaints become more realistic.
Repeat after me... "Swing Voter".
I agree with everything you said except for the real estate - I guess, I am even more right then you are
. But most people who trade Crypto do not report their gains and avoid taxes, so, it is reasonable to restrict trading only on the platforms that report your gains to CRA (ideally, such platform should report all trades and gains, bot just above $20K)
So we have some common ground. So what is your perspective on why a small 3-bedroom bungalow within 100km of Toronto should cost $750k plus on the outskirts? If it is not foreign investors, what is the root cause?I agree with everything you said except for the real estate - I guess, I am even more right then you are
Reliance on immigration...
The Real Estate professions greed and market manipulation... ("there is another offer, but I cannot tell you how much it is")
Yes... foreign investment.
The Real Estate and Rental market has become a massive for profit industry.
An uneducated population who believes shacks in Toronto are a million.
I agree on these points. I have no problem with with immigrants buying a PRIMARY residence. After all, they pay taxes, presumably raise a family and generally help grow the country. What I have a huge issue with is corporations buying houses and turning them into rentals. In the Niagara Region, you have corporations buying $300k dumps, renovating them for $100K and then charging $4,000 a month total for 3 tiny apartments - basement, main floor and top floor. I do think the Ontario real estate market is corrupt and inspections should be mandatory, legally regulated and the responsibility of the seller. Pass the $1,200 for a detailed inspection on to the buyer if you must. I consider it a good investment to know I did not just buy a pig with lipstick on it. Or in the TERB industry, a bait and switch. At least at a bait and switch, the being f**ked over part ends at 10 minutes and a $160 loss.
I have a friend working for some well funded out of country guys. They are buying old family homes under $200k in the Niagara region and turning them into multiple unit apartments. I watched him put a wall through the middle of a bedroom... not like a master bedroom in a new build. A bedroom from a 1920 house.
The rooms are so small that the place is unlivable.... yet it passed Gov't inspection, and he is getting $1500 per unit.
I will say he is enjoying his new luxury car.
The rooms are so small that the place is unlivable.... yet it passed Gov't inspection, and he is getting $1500 per unit.
I will say he is enjoying his new luxury car.
I hope so and that banks start adopting it. I also like paying taxes on the gains. As long as they don’t start scaring us or trying to ban it like other countries and let us participate.
It sucks that binance is getting banned because they have a really good system and could short and buy puts easily and have access to a ton of other crypto and huge market share. What we have here is okay such as NDAX but they need to improve, give us shorting options and access to more crypto. This will take time and their share of the market is not that significant.
