The Canada Revenue Agency (CRA) has identified that cryptocurrency such as Bitcoin, Ethereum, Solona, and Ripple (XRP) are taxable assets. The technology behind cryptocurrency is the blockchain. The blockchain includes a permanent end eligible ledger which records and stores records of all cryptocurrency transactions. This replaces the need for a financial institution to validate transactions. This is why many cryptocurrencies are generally referred to as peer-to-peer systems. As more individuals and business adopt cryptocurrencies, the need for clear tax guidelines have become more apparent. While legislation and case law have not yet distilled Canadian taxation guidelines, there are several key ways in which taxpayers can protect themselves in order to…