What are Virtual Digital Assets (Crypto, NFC, Tokens, etc)?
The Income Tax Act has defined Crypto Currencies as Virtual Digital Assets where virtual digital asset means:
Any information or code or number or token (not being in any currency) providing a digital representation of value exchanged, or having an inherent value, or functions as a store of value or a unit of account. This can be used in any financial transaction or investment and can be transferred, stored or traded electronically and it includes Non-Fungible Tokens (NFTs).
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