With the next Bank of Canada interest rate decision set for December 10th, and the FOMC meeting later this month, the ongoing story in November was the growing uncertainty around Canada’s trade outlook.
Speaking in Alberta on November 27th, Prime Minister Mark Carney stated, “We know that this decades-long process of our ever-closer economic relationship between Canada and the United States has ended.” He underscored how deeply Canada relies on that relationship, with 95 percent of energy exports and 90 percent of lumber, aluminum, and steel flowing to the United States. He added that nostalgia is not a strategy, and pointed to the 2025 Federal Budget as our government’s response plan.
The Prime Minister spoke about strengthening Canada’s energy sector while still aiming for net-zero emissions by 2050. With another election narrowly avoided, the focus now turns to whether this approach can support Canada’s competitiveness at a moment when our biggest trading relationship is in flux.
Newton lent its voice to the Stand With Crypto Canada campaign beginning in December, a coordinated effort to demonstrate the importance of clear and modern rules for digital finance. Since the GENIUS Act was passed in the United States this summer, it has become even more important for Canada to reaffirm its leadership in financial innovation and remove the overhang associated with regulatory uncertainty. We were the first country to approve a Bitcoin spot ETF, and our universities, from Waterloo to Toronto, are recognized internationally for their research in cryptography, blockchain, and computer science. Canada’s track record in financial innovation reflects the strength of our people, our research communities, and our institutions.
The Bank of Canada has noted that the country is facing a productivity emergency, and clearer guidance on stablecoins would give Canadian firms the flexibility to respond. Treating fiat-backed stablecoins as payments and clarifying when they cross into securities would remove the uncertainty that limits innovation. We believe now is the time for Canada to move alongside the United States in shaping a North American standard that strengthens our position in the global economy, and we are proud to be part of the conversations shaping our country’s future.
We launched our Signature Program, a new way to make trading fees feel fair, simple, and responsive to how people actually use Newton. There are no forms to complete and nothing new to manage. Your 12-month trading volume updates automatically each day, and when you move into a new tier, your fee is simply adjusted in the background.
We designed the program to evolve with users, and while staking and rewards are not part of the fee structure today, the framework allows room for growth as new features are introduced. Electronic Funds Transfer (EFT) funding and withdrawals remain free, and wire transfers continue to follow our existing thresholds. If you trade on Newton, you are part of the program automatically. No sign-ups. No extra steps.
For years, Delaware was regarded as an early leader in digital governance, especially as DAOs explored formal structures and chose where to incorporate. But that momentum has begun to shift. Coinbase is preparing to move its incorporation from Delaware to Texas, a decision Tesla and SpaceX have already made. These moves come as several states take a more open line on crypto and corporate governance. In a post on 𝕏, Coinbase Chief Legal Officer Paul Grewal said the United States is moving back toward open markets and clearer oversight.
As the policy map changes in the United States, Canada is weighing its own path. Instead of competing state by state, Canada relies on provincial standards that put client safety at the centre of the conversation. That approach creates space to focus on clear rules, strong protections, and steady long-term planning. The choices we make as a country surrounding digital assets like stablecoins will shape how well we keep pace with global shifts in the years ahead.
This month, on December 8th, our CEO will be sharing a video message highlighting why clear digital asset policy matters for Canadians and how steady, well-designed rules can nurture innovation and support the long-term resilience of our economy.
This month’s Gravity Gauge reflects a market under pressure. November saw declines across most major assets, with only a few areas holding up as traders took a more cautious approach. That’s a noticeable shift from earlier this year, when Bitcoin and Ethereum both hit new highs before pulling back in October and November.
⬆️ PAX Gold (PAXG) rose about 5.9 percent, reflecting strength in the underlying gold market.
⬆️ Tether Gold (XAUT) gained approximately 5.6 percent over the past 30 days.
⬇️ Bitcoin (BTC) had one of its weakest months of the year.
⬇️ Ethereum (ETH) softened, moving lower alongside the broader pullback.
⬇️ Solana (SOL) slid, adding to the overall softness in market sentiment.
Together, these moves left November looking broadly bearish.
As the year wraps up, some investors review their portfolios to see whether selling assets that declined in value could create tax losses that offset realized gains. This applies to both crypto and traditional investments held in non-registered accounts.
Sales or swaps of digital assets are generally treated as dispositions for Canadian tax purposes, so keeping track of trade dates and amounts can make year-end reporting easier. Activity often rises in December as investors ensure any adjustments settle before their tax year closes.
If you need your transaction history, you can export a report file in the Newton app under Settings → Statements and Reports → Tax Reports.
Tax treatment for various transactions depends on a variety of factors, including an individual’s personal tax situation and the application of the Income Tax Act (Canada). Every individual’s situation is different, so please refer to Canada Revenue Agency resources or a qualified accountant for guidance.
If you are new to crypto or have been in the space for years, Newton’s blog offers resources for everyone. Our learning content is designed to be beginner-friendly without skipping the deeper ideas, because we believe the future of money should be understood.
.png)