Crypto Taxes: They Got $72M…Still No Jail Time?! 🤯

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So, the Canadian Revenue Agency? They’re, like, patting themselves on the back because they clawed back $72 million in crypto taxes. $72 MILLION! 🎉 But… zero criminal charges since 2020? What is that? It’s like finding a twenty in your coat pocket and then immediately losing your car keys.

High Non-Compliance Rates Among Crypto Users

The Canada Revenue Agency (CRA) got their hands on over $72 million – USD, mind you, it’s not Monopoly money – from auditing people who use cryptocurrency. But here’s the thing… they haven’t actually charged anyone with a crime since 2020. Meaning all these people just… didn’t pay their taxes? It’s a system! A very frustrating system. 🙄

According to a report, they have a whole team of 35 “cryptoasset auditors.” 35 people! Dedicated to this! And they’re still working on over 230 files. You know, because it’s a mess. The CRA thinks about 40% of crypto people are either ignoring taxes altogether or just… skirting the rules. 40%! That’s basically half! It’s chaos!

And apparently, these cryptocurrencies? They’re designed to be… untraceable. Which, okay, fine for the enthusiasts. But for the government trying to get their cut? It’s a logistical nightmare. Honestly, it sounds like they tried to nail Jell-O to a wall.

A senior CRA auditor, Predrag Mizdrak – great name, by the way – basically admitted in a sworn statement that they can’t even find these tax evaders. Seriously. “No way to reliably identify taxpayers.” It’s astounding! It’s like saying, “We’re a police force, but we can’t find the criminals.” 🤦‍♀️

He says 15% of Canadian crypto users haven’t filed at all. 15%! And another 30% are “high-risk”. High-risk of what? Getting away with it?! And it all got worse during the pandemic, because everyone suddenly got into crypto. It’s always something!

Court Order Targets Dapper Labs Users

So, to try and fix this, the CRA went to court and got permission to find out who’s using this Dapper Labs thing 🌐. It’s like, okay, fine, get the information. But they started with 18,000 users, then bargained it down to 2,500. 2,500! It’s a negotiation! They aren’t accusing anyone of doing anything wrong, just… collecting data. It’s creepy, frankly.

And despite getting all this money back, still no criminal charges. They’ve started five investigations, four of which are still going. Still going! That’s like starting a project and then just… leaving it in the basement forever.

The agency said investigations are “complex.” “Complex!” Everything’s complex! Getting a decent bagel is complex! It’s always an excuse. They need more evidence, witnesses, international help…cooperation. Cooperation! These are criminals, presumably. You’d think they wouldn’t be so cooperative. 🤨

FAQ ❓

  • How much has the CRA collected from crypto audits? Over $72 million USD since 2022. It’s a start… I guess.
  • Why are criminal charges lacking in Canada? Because complexity! And investigations take time! That’s what they say.
  • What steps is the CRA taking to enforce compliance? They peeked at 2,500 Dapper Labs users. Peak surveillance.
  • How widespread is crypto tax non-compliance in Canada? It’s like a pandemic of not paying taxes. Roughly half the users are questionable.

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2025-12-09 08:58