Coalition warns of ‘death knell’ to cryptocurrency industry under proposed tax law changes

Proposed changes to the Excise Tax Act could shut cryptocurrency companies out of an GST/HST input tax credit that benefits the traditional mining sector.
Finance Minister Chrystia Freeland published explanatory notes in February describing proposed changes to the Excise Tax Act.

A new coalition of companies representing Canada’s cryptocurrency sector are urging the federal government not to move forward with a proposed tax law change, which they argue has the potential to kill their nascent industry.

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