BTC $67,417.00 (-1.73%)
ETH $1,942.21 (-2.62%)
XRP $1.39 (-4.02%)
BNB $611.27 (-2.76%)
SOL $83.19 (-3.92%)
TRX $0.29 (+0.60%)
DOGE $0.10 (-4.66%)
BCH $570.04 (+0.74%)
ADA $0.27 (-4.18%)
LEO $8.19 (-1.63%)
HYPE $28.82 (-3.69%)
LINK $8.64 (-3.84%)
CC $0.16 (-0.43%)
XMR $323.33 (-2.45%)
XLM $0.16 (-4.68%)
RAIN $0.01 (+0.86%)
HBAR $0.10 (-3.24%)
LTC $53.31 (-3.89%)
ZEC $243.18 (-6.56%)
AVAX $8.82 (-5.12%)

Canada vs United States

Crypto regulation comparison

← Back to map | Canada | United States
Canada

Canada

United States

United States

Legal
Legal

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.

The United States has the world's most complex crypto regulatory landscape, with overlapping federal and state jurisdictions. The SEC regulates crypto securities and has pursued enforcement actions against exchanges and token issuers. The CFTC oversees crypto derivatives and considers Bitcoin a commodity. FinCEN applies BSA requirements to crypto exchanges as money service businesses. The IRS taxes crypto as property: short-term gains at income tax rates (10-37%), long-term gains at 0-20%. New 1099-DA broker reporting rules take effect from 2025. Multiple states have their own requirements, with New York's BitLicense being the most stringent.

Tax Type Capital gains
Tax Type Capital gains
Tax Rate 0-26.76%
Tax Rate 0-37%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CSA, FINTRAC, OSC, AMF
Regulator SEC, CFTC, FinCEN, OCC, IRS, State regulators
Stablecoin Rules CSA guidance requires stablecoins to maintain adequate reserves; value-referenced crypto assets regulated
Stablecoin Rules Stablecoin legislation actively being developed in Congress; existing oversight by SEC, CFTC, state regulators
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
  • SEC regulates crypto as securities under Howey test; major enforcement actions (Ripple, Coinbase, Binance)
  • CFTC classifies Bitcoin and Ether as commodities; oversees derivatives markets
  • IRS treats crypto as property: short-term gains taxed at 10-37%, long-term (1yr+) at 0-20%
  • FinCEN requires exchanges to register as MSBs and comply with BSA/AML requirements
  • 1099-DA broker reporting for centralized exchanges effective from tax year 2025
Sources
Sources