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Does ByBit 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 ByBit’s tax reporting policies within Canada. We’ll also break down a simple way to report your ByBit taxes in minutes.

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

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

Do I have to pay taxes on my Bybit transactions?

Cryptocurrency is subject to capital gains tax and income tax. 

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

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

How do I avoid ByBit taxes in Canada?

Remember, there is no way to legally evade your taxes in Canada. However, there are tools like tax-loss harvesting and cryptocurrency tax software that 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 ByBit tax report today

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

CoinLedger integrates with ByBit 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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