Tax Guide/Income
Cryptocurrency and tax
Updated November 4, 2026
Crypto is not tax-free in Canada. Tax can apply when you:
- Sell it for dollars
- Trade one crypto for another
- Spend it on goods or services
- Receive it as pay, or as a mining or staking reward
Moving crypto between your own wallets is generally not a sale.
Capital or business?
Occasional investing usually creates capital gains, with half taxable. Frequent trading or mining as a business can create fully taxable business income. The answer depends on your facts.
Records
Keep the date, value in Canadian dollars, type and purpose of each transaction, plus your wallet addresses and exchange records. Exchanges can close, so download your history regularly.