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Does Binance Report to the CRA?

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Cryptocurrency exchanges around the world are starting to report more and more information to government agencies. In this guide, we analyze Binance’s tax reporting policies within Canada. We’ll also break down a simple way to report your Binance taxes in minutes.

Does Binance report to the Canada Revenue Agency? (CRA)

In 2023, Binance announced that it was leaving Canada due to regulatory pressures. As a result, it’s unlikely that Binance will report to the CRA in the future. 

Do I have to pay taxes on my Binance transactions?

Cryptocurrency is subject to capital gains tax and income tax. 

Even though Binance is pulling out of Canada, you’ll need to keep accurate records of your past Binance transactions to accurately report your taxes. 

For more information, check out our complete Canada guide to cryptocurrency tax. 

How do I avoid Binance taxes in Canada?

Remember, there is no way to legally evade your taxes in Canada. However, tools like tax-loss harvesting and cryptocurrency tax software can help you save thousands of dollars legally. 

For more information, check out our guide on how to avoid crypto tax in Canada

Get a Binance tax report today

Looking for a simple way to report your Binance taxes? With CoinLedger, you can import your Binance transactions and auto-generate a complete gains, losses, and income tax report in minutes.

CoinLedger integrates with Binance and dozens of other wallets, blockchains, and cryptocurrency exchanges to automate the entire crypto tax reporting process.

You can get started with a free preview report today.


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