May 22, 2018

Cryptocurrency in Canada, Practical Law Canada

Allan Goodman and Michael Partridge recently authored the article "Cryptopcurrency in Canada", originally published as a practice note in Practical Law Canada, May 2018.

Excerpt:

Cryptocurrency is a type of digital asset that uses blockchain technology to record transactions and manage the issuance and transfer of the cryptocurrency in a decentralized manner that prevents fraudulent transactions.

Bitcoin, which was introduced in 2009, has become the most widely used and accepted cryptocurrency. Other widely used cryptocurrencies include Ethereum, Ripple, Bitcoin Cash and Litecoin, but there are currently well over 1,000 different cryptocurrencies that have been created for various purposes. Cryptocurrencies are widely traded through online exchanges.

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