The Canada Revenue Agency (CRA) has disclosed that about 40% of taxpayers using crypto asset platforms are either evading taxes or are at high risk of non-compliance. The CRA’s crypto asset program has handled over 230 cases, recovering approximately $100 million in taxes through audits over the past three years. The agency stated that due to current laws, it is challenging to reliably identify crypto-related taxpayers and assess their compliance. The CRA has previously pushed Dapper Labs to provide information on highly active users. (CoinDesk)
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The Canada Revenue Agency (CRA) has disclosed that about 40% of taxpayers using crypto asset platforms are either evading taxes or are at high risk of non-compliance. The CRA’s crypto asset program has handled over 230 cases, recovering approximately $100 million in taxes through audits over the past three years. The agency stated that due to current laws, it is challenging to reliably identify crypto-related taxpayers and assess their compliance. The CRA has previously pushed Dapper Labs to provide information on highly active users. (CoinDesk)