Canada Revenue Agency: 40% of cryptocurrency users are at risk of tax evasion, $100 million in taxes have been recovered through audits over the past three years

2025-12-09 00:31:10

According to TechFlow on December 9, citing Coindesk, the Canada Revenue Agency (CRA) disclosed that 40% of crypto asset platform users are involved in tax evasion or face high compliance risks.

The CRA stated that its crypto asset project is staffed with 35 auditors and is handling over 230 cases, having recovered $100 million in taxes through audits over the past three years. The agency acknowledged legal limitations in identifying taxpayers in the cryptocurrency sector, stating it is “unable to reliably identify taxpayers operating in the cryptocurrency sector and assess the compliance of their income tax filing obligations.”

Due to unclear regulations, the CRA has faced challenges in requesting disclosure of information from platforms such as Dapper Labs. The authorities originally planned to obtain information on the top 18,000 Dapper Labs users, but after negotiations, only obtained data on 2,500 users.

To address these limitations, the Canadian Ministry of Finance announced that new legislation will be introduced by spring 2026. Finance Minister François-Philippe Champagne stated that the government is committed to establishing a specialized financial crimes agency to combat financial crime.

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