Canada’s tax agency asks cryptocurrency investors for 10 year trading history

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Canada’s tax agency is reportedly cracking down on cryptocurrency investors in the country.

Multiple sources have confirmed that cryptocurrency holders have been targeted with audits by the Canada Revenue Agency (CRA), according to Forbes.

The agency is thought to have sent questionnaires probing investors about their bitcoin-related activity over the past decade.

Today’s news comes after scammers posing as the CRA contacted unsuspecting civilians to demand tax payments in Bitcoin last year.

A struggle

Due to the fact that they’re unregulated, governments have found it notoriously difficult to tax cryptocurrencies. In fact, Canada is not the first country to launch such a probe. 

In the US, the International Revenue Service (IRS) demanded that Coinbase turn over vast amounts of user

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Read full article » https://thenextweb.com/hardfork/2019/03/07/canadas-tax-agency-asks-cryptocurrency-investors-for-10-year-trading-history/


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