The Bitcoin Coalition of Canada (BCC) has tabled some game-changing suggestions for the Canadian authorities to unlock Bitcoin’s full potential.
Right here’s what they’re pushing for:
Implement a tax exemption for Bitcoin transactions beneath $10,000 CAD. Eradicate capital positive factors tax on Bitcoin held for over a 12 months. Assist and cut back regulatory purple tape to scale up Bitcoin mining in Canada. Set up a Strategic Bitcoin Reserve (SBR) to safe 100,000 BTC over the subsequent 4 years.
These suggestions come at a time when Bitcoin’s international adoption is accelerating, with its use as a forex and financial savings instrument spreading quickly.
The BCC’s transfer is designed to place Canada competitively within the international economic system, whereas additionally selling:
Monetary inclusion globally, by offering the unbanked entry to monetary programs. Human rights, by serving to activists bypass monetary censorship in authoritarian regimes. Environmental impression discount, as Bitcoin mining can scale renewable vitality manufacturing and cut back dangerous methane emissions.
Now’s the time for Canada to embrace Bitcoin, unlock important social, financial, and environmental advantages, and safe a aggressive edge for the long run.
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