Canadian tax expert David Rotfleisch was recently featured in an article on legalwriter.net. In this article, he discusses how the cryptocurrency is rapidly losing its halo of bragging rights to being the Wild West in its early days.
“The CRA [Canada Revenue Agency] and the IRS [Internal Revenue Service] have the tools to access blockchain data and track it down and tax authorities are not only targeting the industry, but doing so in consultation with regulators worldwide.”
Check out the full article here.
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."