Hold onto your digital hats, because things are getting terribly sticky for 2,500 users of Dapper Labs! It seems the Canadian Revenue Agency – a rather grumpy bunch, if you ask me – has decided to poke its nose into the world of NFTs. They’ve bullied a court into making Dapper Labs hand over information. Information! On perfectly innocent people who just wanted to collect pictures of bouncing basketball players and digital kittens. It’s simply dreadful.
- So, the CRA (those beastly tax collectors!) managed to get their grubby mitts on details about 2,500 Dapper Labs users. They originally wanted 18,000! Greedy, I tell you. 😤
- They’ve already swiped over C$100 million in taxes from crypto folk since 2020. Honestly, where does all that money go? Probably to buy enormous hats.
- And if all that isn’t enough, they’re building a brand new agency to sniff out digital pennies! 😠
According to some papers filed way back in September 2025 (which felt like five years ago, frankly), the CRA is investigating whether these users have properly declared their earnings from buying and selling these…things. NFTs, they call them. Sounds like something you’d find growing in a particularly damp garden.
Canada Revenue Agency Probes Dapper Labs Users
The Federal Court order – all very official and imposing, I’m sure – forces the poor Vancouver-based NFT platform to cough up data. The CRA initially wanted details on a whopping 18,000 accounts. But after some huffing and puffing (and probably a decent bribe of maple syrup), they settled for 2,500. Details, details!
Dapper Labs themselves haven’t done anything wrong, you understand. They’re just caught in the middle, like a bewildered mouse in a particularly gruesome trap. This all started after the CRA went after Coinsquare back in 2020. A very nasty business, indeed.
The CRA boasts they’ve collected over C$100 million from unsuspecting crypto users. But they haven’t actually convicted anyone of tax evasion! Imagine that! Spending all that money and getting nothing but a slightly fuller bank account. It’s a bit like a chocolate factory with no chocolate.
Apparently, some sneaky investigators think as many as 40% of users aren’t playing by the rules. But tracking down digital mischief is hard work, especially when the evidence is scattered across the internet like crumbs from a giant biscuit. 🍪
The government is planning a shiny new financial crimes agency by spring 2026. More snooping, more paperwork! One shudders to think. They want to collect even more data. Honestly, it’s a bit much, don’t you think?
And to top it all off, Canada is joining a club (the OECD’s Crypto-Asset Reporting Framework) that means even more reporting. More paperwork, even more snooping! It’s enough to give a reasonable person a headache. 🤕
Oh, and let’s not forget FINTRAC, the financial intelligence unit. They’ve been handing out fines like sweets at Halloween. Cryptomus got a penalty of C$176.96 million and KuCoin C$19.5 million! A truly terrifying amount of money! 👻
So, there you have it. Canada is going absolutely bonkers for crypto compliance. It’s a dreadful state of affairs, really. A dreadful state of affairs indeed.
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2025-12-08 13:30