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Rachel Welch

11 October 2022 247 Read Bitcoin

Is Bitcoin Mining Legal in Canada?

Although the federal government of Canada does not place any restrictions on Bitcoin mining, cryptocurrency regulation varies from province to province. Typically, these regulations are in the form of consumer protection laws. In Ontario, for example, the securities commission has cracked down on non-compliant cryptocurrency exchanges. In June 2021, the commission ordered Binance to suspend all transactions with residents of Ontario.

To mine Bitcoin in Canada, you'll need a computer and a mining rig. These mining rigs cost a lot of money and are not easy to get for free. If you're serious about mining, however, you'll want to buy a high-end setup. Legitimate miners pay tens of thousands of dollars to buy their rigs.