Multiple sources have confirmed to me that users of bitcoin and other crypto assets in Canada have been targeted by the Canada Revenue Agency (CRA) with audits. Those who have been targeted by the CRA have also been sent comprehensive questionnaires to fill out regarding their bitcoin-related activity over the past years. In the past, the CRA has dealt with scammers who call unsuspecting Canadians up to demand dubious tax payments in bitcoin. The Internal Revenue Service (IRS) in the United States has also targeted bitcoin users in the past, demanding Coinbase turn over large amounts of data about its users. The questionnaire also asks if the person in question has purchased crypto assets from private individuals:“Did you purchase bitcoin or crypto currencies privately from individuals?

Source: Forbes March 06, 2019 23:55 UTC