Our goal is to be as transparent as possible and echo the communications sent to our customers, and address questions raised on social media, customer … Toronto-based Coinsquare laid off a significant portion of the company today, BetaKit has learned.. The agency says it is trying to fight tax fraud and an underground economy. And the CRA seems to be coming for more. Coinsquare’s headcount sat somewhere near 150 employees, pointing to approximately a 27 percent staff reduction. In a September filing to federal court, the Canadian Revenue Agency requested that a judge make Coinsquare hand over information. Canada’s tax authority, the Canada Revenue Agency (CRA) has prevailed in a court battle for access to a trove of high-value customer data held by cryptocurrency exchange Coinsquare. Canada Revenue Agency has petitioned a federal judge to order Coinsquare, a crypto exchange, to submit its client information since 2013. According to the body, the decision … Information to help you manage your account information and access. Cryptocurrency exchange Coinsquare has been ordered to hand over customer records to the Canada Revenue Agency (CRA). As the CEO of Coinsquare, I would like to provide you with a formal response to the recent news about a data breach of personal information contained within approximately 5,000 records of customer relationship management (CRM) data. Promoted articles. Under a federal judge’s March 19 order, Coinsquare must hand over detailed information on its Canadian customers, their […] The CRA is asking for the identity of every client on Coinsquare, a major crypto platform. Coinsquare. The CRA is currently in the process of serving Coinsquare with the requirement,” Sylvie Branch said by email. The CRA generally treats cryptocurrency like a commodity for purposes of the Income Tax Act. In a September filing to federal court , the CRA requested that a judge make Coinsquare hand over information. As reported by the National Post, a news outlet in Canada, the tax authority wants to review every detail in the crypto exchanges customer ledger starting from 2013. Account Management. The tax agency is asking for the identity of every client on Coinsquare, a major crypto platform. Multiple sources placed the total number laid off at approximately 40 employees in roles across the company. In an interview last month, the CRA’s head of audits and verification explained that Coinsquare was chosen for the agency’s first UPR in the cryptocurrency space because its name kept on appearing during auditors’ work. Accounting, CRA Articles, Tax May 28, 2019 2 comments Taxable income means the value of what you have received is included in your income for the year, and you must pay tax on this amount. However many Canadians were this week reminded of the 2018 Stats Canada scandal when they heard that the Canada Revenue Agency (CRA) wants the same kind of data from a crypto company in Toronto known as Coinsquare. The CRA says it is trying to fight tax fraud and an underground economy. Any income from transactions involving cryptocurrency is generally treated as business income or as a capital gain, depending on the circumstances. Coinsquare Wealth is an exclusive service available for qualified individuals and institutions. Coinsquare and the CRA On March 19, 2021, the Honourable Justice Pamel ordered CoinSquare, a major Canadian cryptocurrency exchange to provide a list of all Customer accounts,... Administration , CRA Articles , News , Tax March 31, 2021 ... ReddIt.

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