Does the CRA audit crypto?

Yes, the CRA audits crypto. The agency has dedicated crypto auditors, gets customer data from platforms through court orders, and expects exchange reports under new rules. For the basic tax rules, see how crypto is taxed in Canada.

How does a CRA crypto audit work?

The Canadian Press reported in December 2025 that the CRA's crypto asset program had 35 auditors. The agency said they were working on more than 200 files and had collected over 100 million dollars in taxes over three years. No criminal charges had been laid since 2020, though several criminal investigations were open.

In an audit, you must show records that support what you filed. The CRA warns that if an exchange shuts down and you no longer have access, backing up your numbers becomes much harder.

How does the CRA get crypto information?

One tool is the "unnamed persons requirement," a court-approved demand that makes a company identify a defined group of users. The CRA used one against Coinsquare around 2020. In September 2025 the Federal Court approved one against Dapper Labs, after the CRA narrowed its request from about 18,000 users to 2,500.

The CRA's own estimates, as reported, suggest up to 40% of crypto platform users either had not filed or were high risk for non-compliance.

What are the CRA cryptocurrency reporting rules from 2026?

Canada announced in its 2024 budget that it would adopt the OECD Crypto-Asset Reporting Framework. Under draft legislation released in August 2025, the rules apply from 1 January 2026 and first reports are due in 2027 for the 2026 calendar year.

Crypto-asset service providers that are resident in Canada or do business there would report users' names, addresses, dates of birth, tax numbers and residence. They would also report crypto-to-fiat and crypto-to-crypto exchanges and certain transfers. The CRA can share this data with other countries. For a wider view of these rules, see crypto tax around the world.

What records does the CRA expect for crypto?

For every transaction, the CRA wants the date and time, the type and number of units, the value in Canadian dollars, a description and the other party, and the wallet addresses used. It also wants opening and closing balances each year. You must keep records for at least six years from the end of the last tax year they relate to.

If you missed reporting, the Voluntary Disclosures Program may help. Since 1 October 2025, unprompted disclosures can get 100% relief of penalties and 75% of interest. Prompted ones, such as after a CRA letter, can get up to 100% penalty relief and 25% of interest. People already under audit cannot apply.

Rules differ by country and change often. Check the tax authority or a qualified professional for your own situation.