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Tag: Canada

Canadian taxes for selling of Stellar (XLM)

Posted on February 5, 2023February 7, 2023 by stellar

The topic of cryptocurrency and taxes is complex and highly specific to individual circumstances, and it would be best to consult with a professional tax advisor or accountant to understand the applicable tax laws and regulations in Canada. In general, the Canadian government considers cryptocurrencies, including Stellar XMR, to be a form of property for…

Stellar is a blockchain project founded in 2014 by Ripple co-founder Jed McCaleb and venture capital investor Joyce Kim. At the beginning, Stellar shared a lot of its code with the XRP ledger, but the project has since taken on unique characteristics of its own. However, the XRP and Stellar blockchains are still often compared since they both offer fast and cheap transactions and share some common history. You can read more on this topic in our in-depth article on Stellar (XLM).

STELLAR FACTS

Stellar is a decentralized protocol on open-source code to transfer digital currency to fiat money domestically and across borders.

FACT #2

The Stellar blockchain’s cryptocurrency is called the lumen, a token that trades under the symbol XLM.

FACT #3

Stellar is one of the best-performing altcoins of the last five years with a market cap of just over $1 billion.

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