CRA Targeting Cryptocurrency Trading
In a ruling last week, a Federal Court judge ordered Toronto-based Coinsquare to provide the tax agency with information about all its clients who had deposited or at any point held a total of at least $20,000 in an account since Jan. 1, 2013.
CRA would like to ensure all Canadians trading cryptocurrencies on Coinsquare were paying their fair share of taxes.
CRA started with Coinsquare first because its name kept on appearing during CRA auditors' work.