BCC Urges Government to Adopt Recommendations for Supercharging Bitcoin in Canada

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 underneath $10,000 CAD.
• Get rid of capital features tax on Bitcoin held for over a yr.
• Help and scale back regulatory crimson 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 foreign money and financial savings device 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 methods.
• Human rights, by serving to activists bypass monetary censorship in authoritarian regimes.
• Environmental influence discount, as Bitcoin mining can scale renewable vitality manufacturing and scale 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 longer term.