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Could you please explain the tax implications of cryptocurrency losses in Canada? I'm particularly interested in whether I can claim my crypto losses on my taxes. Additionally, could you clarify how capital losses from crypto-assets are treated? I've heard that you can't deduct them against income from other sources like employment income. Is that true? If so, how do I go about deducting the losses I've incurred? Can I only deduct half of my capital losses, and are these known as allowable capital losses? Furthermore, are these deductible only against taxable capital gains? I would greatly appreciate a clear explanation of these tax rules.
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