CRA Targets Crypto Users In Canada!
canada·@firepower·
0.000 HBDCRA Targets Crypto Users In Canada!
Canadian Tax Authority seems to have targeted cryptocurrency and Bitcoin users in Canada with a list of questions that is just short of asking them their private keys and direct wallet access. I think these questions are quite invasive but that's the government for you. You can find the entire list of questions [here](https://imgur.com/DA8ksbp). <center></center> This is similar to what happened in India in late-2017 when India's Income Tax Department asked a crazy set of questions to HNWI investors using cryptocurrencies in India. You can find that in my post [here](https://steemit.com/bitcoin/@firepower/view-this-copy-of-i-t-summons-to-hni-how-indian-i-t-department-harasses-bitcoin-users-in-india). It was a summons to answer all these questions but eventually the issue died down. However, CRA feels that Bitcoin and cryptocurrencies are used for money laundering even as [1.3 Million leaked transactions](https://news.bitcoin.com/leaked-transactions-banks-billion-money-laundering/) link major banks to $8.8 Billion money launder scheme done by way of using banks. Ofcourse there's no dearth of scammers in any part of the world and the government wants to curb activities that cause problem to citizens. However, this feels a bit too harsh. Take a look at the report linked above and see for yourselves. >According to CRA statement to [Forbes](https://www.forbes.com/sites/ktorpey/2019/03/06/bitcoin-investors-targeted-with-audits-by-canadas-federal-tax-agency/#2195852e656e) - “The Canada Revenue Agency (CRA) understands that a vast majority of middle-class Canadians pay their fair share, but it remains committed to ensuring that without exception, every taxpayer abides by the same tax laws. As a world-class tax administration, the CRA is also committed to adapting its administration to keep pace with evolving global services and products, and making key investments to effectively address the new ways of doing business in the global economy. One can only hope that government don't continue to get too invasive about cryptocurrency holdings. That would be terrible for all the users of this disruptive tech. --------- **If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:** 1. [Why You Should Vote For Firepower As Witness—Witness Campaign Post From India!](https://steemit.com/witness-category/@firepower/why-you-should-firepower-as-witness-witness-campaign-post-from-india) 2. [Steem.Chat Contest #68](https://steemit.com/steemchat/@firepower/steem-chat-contest-68) ---------- <center>Follow Me: @firepower</center> ------------------------------------------
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