Cryptocurrency & Tax in Canada
The CRA treats cryptocurrency as property, not currency. Every transaction is a potential taxable event. Here is what you need to know.
Taxable Events
- Selling crypto for fiat currency
- Exchanging one crypto for another
- Using crypto to buy goods or services
- Receiving crypto as income
- Mining and staking rewards
Capital Gains vs Business Income
Occasional trading with long holding periods: capital gains (50% taxable). Frequent trading with short holding periods: business income (100% taxable).
Voluntary Disclosure
The CRA Voluntary Disclosure Program may allow you to regularize undeclared years without penalty.
Questions about your crypto tax situation?
Schedule a Free ConsultationArticle by Amine Benkhalfa, CPA Auditor. Last updated: July 2026.