According to ChainCatcher, citing The Block, court documents obtained by the Canadian Press show that the Canadian tax authorities have collected over CAD 100 million (approximately USD 72 million) in taxes through cryptocurrency-related audits over the past three years, but have not filed any criminal charges since 2020, revealing structural limitations in the country's law enforcement capabilities.
The Canada Revenue Agency (CRA) audit team has processed over 230 files and estimates that 40% of taxpayers using cryptocurrency platforms are either not filing taxes or at high risk of non-compliance. However, the CRA believes it is “unable to reliably identify taxpayers in the cryptocurrency space and assess their income tax compliance.” Furthermore, the report states that the CRA has obtained data on 2,500 users from Dapper Labs through a court order. The CRA initially sought information on Dapper’s top 18,000 users, but after negotiations with company executives and lawyers, the number was ultimately determined to be 2,500. The CRA’s application filed with the Federal Court in September is the second time a court has ordered a Canadian cryptocurrency company to disclose such information, following a similar order issued to the Toronto Stock Exchange Coinsquare in 2020.
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