Canada cryptocurrency regulation is surprisingly not the best. This typically very free nation has taken some aggressive stances against digital currencies out of fear, and it's something that investors may need to be wary of. While holding and using currencies are legal, there were some serious banking bans that have taken place.

While users are able to purchase BTC and other altcoins, specific banks such as the Bank of Montreal have outright banned consumers from purchasing cryptocurrencies using both credit and debit cards. This was likely an overreaction to the fact that they may have opened themselves up to legal consequences should any money laundering charges arise.

These bans are reported to be "temporary" until regulators can better evaluate the nature of the usage of digital currencies in the country. However, their gross overreaction seems troubling, and investors may want to tread lightly here until a decision is made. While there are no set in stone regulations yet, investors can expect this country to be on par with the United States when it comes to regulating digital currencies, as they seem equally serious about the negative aspects of alternative currencies.

This could make them very controlling in the long run. However, if you plan to invest in a mining operation, then you may be interested to know that they offer extremely low electricity rates, which can greatly up the profit margins of crypto mining.