The Canada Revenue Agency (CRA) is reportedly targeting Bitcoin investors as well as other cryptocurrency users with federal tax audits. The CRA has also sent questionnaires to determine the previous trading and investing activity. Taxation of cryptocurrency has been a gray area for years, with tax attorneys and even regulators unsure of how to proceed. With many investors using KYC-enabled exchanges which store ID and trading history, it’s likely that the audits will uncover all past trading activity in some cases. CRA Lays Down The Law Duly noted. https://t.co/PRyrVhOyw0 — Jared Adams (@jared_adams613) January 30, 2019 CRA Project Oversight Director
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