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MetaMask is one of the most widely used non-custodial crypto wallets. Available as a browser extension and mobile app, it allows users to store Ethereum, ERC-20 tokens, and NFTs.
Because it’s non-custodial, MetaMask does not hold your funds or require Know Your Customer (KYC) verification. However, if you buy crypto through MetaMask using a third-party service (like a card or bank transfer), that provider may require you to verify your identity.
MetaMask does not report to the Canada Revenue Agency (CRA). As a self-custody wallet, it does not collect user identity data.
Of course, it’s important to remember that your MetaMask transactions are publicly visible on the blockchain. If you transfer crypto to/from a centralized exchange, the CRA will likely be able to link your wallet address to your identity.
Starting in 2027, the Crypto-Asset Reporting Framework (CARF) will expand the CRA’s access to crypto transaction data from exchanges. This will likely make it easier than ever for the agency to link identities to ‘anonymous’ wallets.
Yes. Crypto activity on MetaMask and other wallets is subject to tax.
Remember, moving crypto between your own wallets (for example, from Coinbase to MetaMask) is not taxable in Canada.
You can create and use a MetaMask wallet without providing ID.
If you buy or sell crypto within MetaMask through partners like MoonPay, those third-party services may require you to complete KYC.
Yes. MetaMask is legal to use in Canada. You should stay compliant with CRA rules and report your income and capital gains from cryptocurrency.
While there’s no way to legally evade your taxes, there are steps you can take to reduce your tax bill in Canada: