When the Canadian government seizes crypto, digital assets like Bitcoin or Ethereum that can be owned and transferred without a bank. Also known as cryptocurrency, it’s treated as property under Canadian law—not currency. This means the Canada Revenue Agency (CRA), the federal tax authority that tracks income, including crypto gains and losses can demand records, freeze wallets, and even seize coins if taxes aren’t paid or if funds are linked to illegal activity. The Canadian Financial Transactions and Reports Analysis Centre (FINTRAC), the agency that monitors suspicious financial activity, including crypto transfers works with police and customs to track cross-border crypto movements, especially when they involve unregistered exchanges or privacy-focused coins.
Canada doesn’t ban crypto, but it doesn’t tolerate evasion. In 2023, authorities seized over $120 million in crypto tied to money laundering, darknet markets, and tax fraud. One case involved a Toronto man who moved $4.2 million in Bitcoin through unregistered exchanges to avoid reporting capital gains. His wallets were frozen, his assets confiscated, and he faced criminal charges. Another involved a Vancouver woman who used Monero to hide income from the CRA—her hardware wallet was seized during a police raid. These aren’t rare events. The CRA has been using blockchain analysis tools since 2021 to trace transactions across wallets, even if they pass through mixers or privacy protocols. If you’re using non-KYC exchanges like GroveX or BloFin, or holding crypto in self-custody without records, you’re already on their radar.
What does this mean for you? If you’re holding crypto in Canada, you need to know: the government can take it. Not because it’s illegal to own, but because you didn’t report it, or because they suspect it came from something illegal. The key is documentation. Keep records of every buy, sell, transfer, and trade. Know which exchanges you used and whether they reported to FINTRAC. If you’re using a non-KYC platform, understand that you’re trading privacy for risk—because if the CRA comes knocking, you won’t have a paper trail to prove your innocence. This isn’t about fear. It’s about control. Canada’s approach isn’t to stop crypto—it’s to make sure you pay your share and can’t hide.
Below, you’ll find real reviews and investigations into exchanges, tax rules, and crypto risks that matter to Canadians. From how the CRA tracks your wallet to which platforms are safest under scrutiny, these posts give you the facts—not the hype—so you know exactly where you stand.
Canada seized $40 million in crypto from TradeOgre, shutting down a privacy-focused exchange that ignored KYC rules. This marks the first time law enforcement dismantled an entire crypto platform - not just a wallet.