Digital currencies, such as Bitcoin or other cryptocurrencies, are not legal tender in Canada. Only the Canadian dollar is considered official currency in Canada.


The Currency Act defines legal tender as: bank notes issued by the Bank of Canada under the Bank of Canada Act/ coins issued under the Royal Canadian Mint Act.


Digital currencies are not supported by any government or central authority, such as the Bank of Canada¹.

Financial institutions, such as banks or credit unions, don't manage or oversee digital currency.


References:

¹ Financial Consumer Agency of Canada (2017). Digital Currency. Retrieved from: https://www.canada.ca/en/financial-consumer-agency/services/payment/digital-currency.html