Cryptocurrency exchanges around the world are starting to report more and more information to government agencies. In this guide, we analyze Crypto.com’s tax reporting policies within Canada. We’ll also break down a simple way to report your Crypto.com taxes in minutes.
Does Crypto.com report to the Canada Revenue Agency? (CRA)
In Canada, major exchanges like Crypto.com are required to register with FINTRAC(Financial Transactions and Reports Analysis Centre of Canada). FINTRAC specifically is tasked with preventing tax fraud and money laundering — so it’s likely that your information is shared with the CRA.
Do I have to pay taxes on my Crypto.com transactions?
Yes. In Canada, your transactions on Crypto.com and other platforms are subject to income and capital gains tax.
If you’ve earned or disposed of (ex. Sold or traded away cryptocurrency) during the year, you’ll have a tax liability to report to the CRA.
For more information, check out our complete Canada guide to cryptocurrency tax.
Is Crypto.com legal in Canada?
Yes. Crypto.com legally operates in Canada.
How do I avoid Coinbase taxes in Canada?
Remember, there is no way to legally evade your taxes in Canada. However, there are tools like tax-loss harvesting and cryptocurrencytax software that can help you save thousands of dollars legally.
For more information, check out our guide on how to avoid crypto tax in Canada.
Get a Crypto.com tax report today
Looking for a simple way to report your Crypto.com taxes? With CoinLedger, you can import your Crypto.com transactions and auto-generate a complete gains, losses, and income tax report in minutes.
CoinLedger integrates with Crypto.com and dozens of other wallets, blockchains, and cryptocurrency exchanges to automate the entire crypto tax reporting process.
You can get started with a free preview report today.
