US EditionCRA Recovers $100 Million in Crypto Taxes but No Charges Since 2020
CRA's 35 auditors recovered $100 million from over 230 crypto files in three years amid ongoing complex investigations with no charges since 2020.
- Canada Revenue Agency cryptoasset auditors reported recovering $100 million from audits over three years, but no criminal charges have been laid since 2020.
- Faced with borderless platforms, the Canada Revenue Agency says it cannot reliably identify taxpayers in crypto, complicating compliance amid anonymity and limited enforcement resources.
- The CRA sought to unmask Dapper Labs Inc. users, reducing the initial 18,000‑user request to 2,500, with 35 auditors working on over 230 files, per court orders.
- Regulatory fines and a proposed new agency followed, with FINTRAC issuing nearly $177 million against Xeltox and over $19.5 million against KuCoin, while Francois-Philippe Champagne announced a new body to `investigate complex cases of money laundering, organized criminal activity and online financial scams`.
- Limited policing resources and political demand constrain prosecutions, with five criminal investigations initiated since 2020 reflecting sustained probes, the Canada Revenue Agency and experts say criminal cases are complex and take years.
41 Articles
41 Articles
Up to 40% of taxpayers who use cryptoactive platforms have not reported their taxes or have a high risk of non-compliance.
The Canada Revenue Agency (CRA) recognizes that although cryptoactive audits have recovered some $100 million over the past three years, no criminal charges have been laid since 2020.
Winnipeg Free Press
Canada's crypto tax crackdown reaps millions. So why no criminal charges?
Breaking News, Sports, Manitoba, Canada
With the rapid development of cryptocurrencies such as Bitcoin, the Canada Revenue Agency (CRA) has significantly strengthened its oversight of crypto assets in recent years. Currently, the CRA has 35 dedicated auditors responsible for crypto asset-related matters, handling over 230 cases and successfully recovering over $100 million in taxes in the past three years.
Cryptopolitan
Bitcoin Ethereum NewsCRA pulls in $100M from crypto audits as criminal cases stall
A group of auditors from the Canada Revenue Agency (CRA), specializing in cryptocurrency, has revealed that they are currently managing more than 200 cases and have gathered over $100 million in the past three years. Interestingly, the government agency reported that no criminal charges have been filed against anyone since 2020. CRA has been initiating efforts to uncover a considerable amount of unpaid taxes. Following their findings, they disco…
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