[Canada Revenue Agency Says 40% of Crypto Users Are at Risk of Tax Evasion, Platforms Asked to Disclose User Data] Odaily Planet Daily News – The Canada Revenue Agency (CRA) stated that approximately 40% of taxpayers using crypto platforms are at risk of tax evasion or non-compliance. In an email statement, the CRA mentioned that its crypto asset audit team consists of 35 auditors handling over 230 related cases, recovering more than 100 million CAD in taxes through audits over the past three years. The CRA acknowledged that current Canadian laws have significant limitations in identifying crypto asset users, making it difficult for regulators to reliably identify crypto users and assess their tax compliance. As a result, the CRA has repeatedly attempted to request user data from platforms, including asking Dapper Labs for data on its top 18,000 users. However, after negotiations between lawyers and officials, only data on 2,500 users was obtained. The Canadian Ministry of Finance announced this October that new legislation will be introduced in the spring of 2026 to address regulatory gaps. Finance Minister François-Philippe Champagne stated that the government will establish a dedicated financial crime agency to tackle rapidly evolving fraud and financial crimes. Meanwhile, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) continues to strengthen anti-money laundering enforcement. Recently, it imposed a fine of over 19.5 million CAD on KuCoin's operating entity, Peken Global, for failing to register as a foreign money services business as required. (CoinDesk)