Canada vs Tanzania
Crypto regulation comparison
Canada
Tanzania
Legal
Partially Regulated
Canada has a well-developed regulatory framework for cryptocurrency. Crypto trading platforms must register with provincial securities regulators through the CSA, and all crypto businesses must register as money services businesses (MSBs) with FINTRAC. Canada approved spot Bitcoin ETFs in 2021, ahead of most other countries.
Tanzania's regulatory stance on crypto is evolving. The Bank of Tanzania warned against crypto in 2019, but the 2024 Finance Act introduced a 3% withholding tax on digital asset transactions — Tanzania's first legal recognition of crypto. A December 2024 High Court ruling held that taxed crypto transactions cannot be deemed unlawful. No comprehensive regulatory framework exists yet.
Tax Type
Capital gains
Tax Type
Income
Tax Rate
0-26.76%
Tax Rate
3% withholding tax
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
No
Regulator
CSA, FINTRAC, OSC, AMF
Regulator
Bank of Tanzania
Stablecoin Rules
CSA guidance requires stablecoins to maintain adequate reserves; value-referenced crypto assets regulated
Stablecoin Rules
No stablecoin regulation
Key Points
- Crypto trading platforms must register with CSA provincial regulators
- All crypto dealers must register as MSBs with FINTRAC for AML/KYC compliance
- 50% of capital gains are taxable; business income from crypto is fully taxable
- Canada approved spot Bitcoin and Ether ETFs in 2021, the first major country to do so
- CSA issued Staff Notice 21-327 on obligations for crypto trading platforms
Key Points
- Bank of Tanzania warned against crypto trading in 2019 public notice
- Finance Act 2024 introduced 3% withholding tax on digital asset transactions
- December 2024 High Court ruled taxed crypto transactions are not unlawful
- An estimated 2.3 million Tanzanians own cryptocurrency
- Bank of Tanzania exploring central bank digital currency (CBDC)