“Canada’s tax agency says legal gaps limit its ability to track crypto-related income as it recovers $100 million through audits and pushes for tighter regulation.”, — write: www.coindesk.com
The news outlet said it received an emailed statement from CRA saying it has 35 auditors in its cryptoasset program, working on over 230 files, which have resulted in “significant taxes earned by audit,” including $100 million in the past three years.
The CRA acknowledged legal limitations in Canada, stating it believes “there is no way to reliably identify taxpayers operating in the crypto space and assess compliance” with income tax reporting obligations. These challenges drove the CRA’s efforts to compel disclosures from platforms like Dapper Labs.
The government had expressed particular concern over taxpayers using the Vancouver-based firm to evade taxes, but due to a lack of clear CRA regulations, the company was not fully held accountable, The Canadian Press said.
According to Canadian Press, Dapper Labs did not deny the investigation, although it did not fully comply either; authorities sought information on Dapper’s top 18,000 users, but negotiations between company officials, lawyers, and officials saw the number reduced to only 2,500. CoinDesk contacted Dapper Labs and the CRA for comment, but no response was immediately received.
In light of the limitations, the country’s Department of Finance announced in late October the introduction of new legislation by Spring 2026.
“Fraud and financial crime are evolving rapidly, and so must our response,” François-Philippe Champagne, Minister of Finance and National Revenue, said on October 20, when announcing the new law. “Whether it’s launching a new Federal Anti-Fraud Strategy, establishing a dedicated Financial Crimes Agency to combat financial crimes, or addressing economic abuse, our government is committed to safeguarding the financial security of every Canadian.”
Meanwhile, Canada’s financial intelligence unit, FINTRAC, has been actively enforcing anti-money laundering laws, fining Seychelles-based crypto exchange Peken Global Ltd., operating as KuCoin, more than $19.5 million for failing to register as a foreign money services business in the country.
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence’s Token Security API averaged 717 million monthly calls year-to-date in 2025, with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch, the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B, while derivatives volume peaked the same month at over $4B.
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Argentina’s central bank is reportedly drafting new rules to allow banks to offer customers digital asset-related services as early as April 2026.
- The Central Bank of Argentina is considering lifting the ban on banks offering cryptocurrency services, potentially implementing new rules by April 2026.
- Argentina’s shift towards a crypto-friendly policy follows the election of Javier Milei and aims to boost adoption amid economic challenges.
- Argentina is a leading country in cryptocurrency adoption, with a significant portion of transactions involving stablecoins to hedge against inflation.
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