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Could you please elaborate on whether cryptocurrency is considered a foreign asset in Canada? It's mentioned in the CRA's conclusion that if certain funds or intangible properties are located, deposited, or held outside the country, they are categorized as specified foreign property and thus subject to reporting. Given that cryptocurrency is considered as "funds or intangible property," how does this fit into the Canadian tax and asset classification framework? Could you also provide some insight into the potential tax implications for Canadians holding cryptocurrency?
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