Revenu Québec Is Warning Quebecers To Declare Cryptocurrency On Their Taxes
According to Revenu Québec, "we consider [virtual currency] to be property, not currency. For income tax purposes, transactions involving virtual currency are considered barter transactions."
There are several tax consequences if you use a cryptocurrency for "acquiring goods and services," convert a virtual currency to legal tender, exchange it, sell it, or "use it to make a donation."
Furthermore, if you engage in what Revenu Québec calls mining activities, "you must keep records and documents supporting the information in them for six years following the last year they cover."