Crypto is legal in Canada. Trading platforms that serve Canadians must be registered with the Canadian Securities Administrators (CSA), or have signed a formal commitment to register, and you can check this yourself. The Canada Revenue Agency (CRA) taxes half of your capital gains on crypto, or all of your profit if your trading counts as a business.
This guide explains how platforms are regulated, how the CRA taxes crypto, and where to report scams.
At a glance
| Topic | The short version |
|---|---|
| Regulators | Canadian Securities Administrators (CSA) and FINTRAC |
| Check a platform | CSA or provincial list of registered platforms |
| Tax on gains | 50% of capital gains taxed; 100% if it's business income |
| Tax on rewards | Income when received |
| Filing deadline | 30 April for most people |
| Report a scam | Canadian Anti-Fraud Centre, 1-888-495-8501 |
Who regulates crypto in Canada
Securities regulators
Canada's provincial and territorial securities regulators work together as the CSA. They treat most crypto trading platforms as dealing in securities-like contracts, so platforms must either:
- be registered with the CSA, or
- have signed a pre-registration undertaking, a written promise to follow interim rules while their registration is processed.
Registered platforms listed by the Ontario Securities Commission include Wealthsimple, Coinbase Canada, Kraken, Newton, Shakepay, Bitbuy (Coinsquare), Netcoins, NDAX and VirgoCX. Platforms with pre-registration undertakings have included Crypto.com, Gemini and Uphold. Lists change, so check the CSA website or your provincial regulator before you sign up.
Investment limits
To protect retail investors, most provinces limit how much a typical investor can put into riskier coins through a registered platform: up to C$30,000 in net purchases over 12 months for coins other than Bitcoin, Ether, Bitcoin Cash and Litecoin. Higher limits apply to people who qualify as eligible or accredited investors.
Anti-money-laundering
Crypto businesses must also register with FINTRAC, Canada's financial intelligence agency, as money services businesses and verify customers' identity.
Crypto ETFs
Canada was one of the first countries to allow spot Bitcoin ETFs, in 2021. They trade on the Toronto Stock Exchange and can be held in a normal brokerage account, including registered accounts like a TFSA, depending on your provider.
How crypto is taxed in Canada
The CRA treats crypto as a commodity. How you are taxed depends on whether your activity looks like investing or like running a business.
Capital gains: half is taxable
If you invest occasionally, profit from selling, swapping or spending crypto is a capital gain, and 50% of it is added to your taxable income. A government plan to raise this to two-thirds was cancelled in March 2025.
Example: you buy C$5,000 of Bitcoin and later sell it for C$8,000. Your gain is C$3,000, and C$1,500 is added to your income for the year.
Business income: all of it is taxable
If you trade frequently, aim for short-term profits, or run crypto like a commercial operation, the CRA may treat your profit as business income. Then 100% of it is taxable, though you can deduct reasonable expenses.
Other rules to know
- Swaps are taxable. Trading one coin for another counts as selling the first at its Canadian dollar value.
- Superficial loss rule. If you sell at a loss and buy the same crypto back within 30 days before or after the sale, you can't claim the loss.
- Staking rewards are generally treated as income at their value when you receive them.
How to report
Report capital gains and losses on Schedule 3 of your T1 return. Most people must file and pay by 30 April. Self-employed people have until 15 June to file, but any tax owed is still due on 30 April. Keep a record of every transaction in Canadian dollars.
For a comparison with other countries, see how crypto is taxed around the world.
How to buy crypto safely in Canada
- Use a registered platform, or at minimum one with a pre-registration undertaking, and confirm it on the CSA or provincial list.
- Check the regulators' warnings. Provincial securities regulators publish alerts about unregistered platforms.
- Use strong security, such as an authenticator app.
- Move long-term holdings to your own wallet if you're comfortable managing it. See our wallet guide.
- Keep records from the start. You'll need them at tax time.
Our guide to choosing an exchange covers what else to check.
Scams and where to report them
Investment scams involving crypto are a common cause of fraud losses in Canada. Watch for fake trading platforms promoted through social media or dating apps, fake celebrity adverts, and callers who tell you to move money into crypto to "protect" it.
If you've been targeted:
- Report to the Canadian Anti-Fraud Centre online or on 1-888-495-8501.
- Report to your local police.
- Tell your bank and the platform you sent money through straight away.
Our scam guide explains the common red flags.
FAQ
How much tax do I pay on crypto in Canada?
If you're investing, 50% of your capital gain is added to your income and taxed at your normal rate. If your trading counts as a business, all of the profit is taxed.
Is Binance available in Canada?
Binance announced it would leave Canada in 2023. Use a platform that appears on the CSA's registered or pre-registration list.
Do I have to report crypto if I didn't sell?
Not for price rises alone. You report when you sell, swap or spend crypto, or when you receive it as income.
Can I hold crypto in a TFSA?
You can't hold coins directly in a TFSA, but many providers let you hold Canadian-listed crypto ETFs in one. Gains inside a TFSA aren't taxed. Check with your provider.
Sources: Ontario Securities Commission, Registered crypto asset trading platforms; CRA, Guide for cryptocurrency users and tax professionals; Canadian Anti-Fraud Centre.
This is not financial advice. Crypto is volatile and you can lose money. Do your own research.