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How Crypto is Taxed in Canada — What CRA Expects From You (2026 Guide)

  Published: April 2026 | Reading time: 11 min | Category: Taxes, Investing, Personal Finance A lot of Canadians still believe cryptocurrency exists in a tax-free grey zone. It does not. The Canada Revenue Agency is very clear on this: crypto is taxable, every transaction counts, and CRA has been aggressively pursuing crypto investors who don't report correctly. If you've bought, sold, traded, or earned any cryptocurrency in Canada — Bitcoin, Ethereum, Solana, or anything else — this guide explains exactly what CRA expects from you, what counts as a taxable event, and how to reduce your tax bill legally. The CRA's Official Position on Crypto The CRA treats cryptocurrency as a commodity , not a currency. This is a critical distinction. It means: Crypto is subject to either capital gains tax or income tax depending on how you use it Every time you dispose of crypto — sell it, trade it, spend it, or give it away — you trigger a taxable event Simply holding cryp...
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C$ Climbs to 6-Day High on Fed Rate Cut Forecast

 


In a positive turn of events, the Canadian dollar (C$) has strengthened to a six-day high against its U.S. counterpart. Investors are celebrating the Federal Reserve’s decision to stick with its interest rate-cutting forecast for 2024.

Here are the key points:

  • The loonie (as the Canadian dollar is affectionately known) is trading 0.5% higher at 1.35 to the U.S. dollar, or 74.07 U.S. cents. It touched its strongest intraday level since last Thursday at 1.3491.
  • The Federal Reserve held interest rates steady, but policymakers indicated they still expect to reduce rates by three 25-basis-point cuts by the end of 2024. This is despite slower-than-expected progress toward the U.S. central bank’s 2% inflation target.
  • Wall Street rallied, U.S. Treasury yields fell, and the U.S. dollar lost ground against a basket of major currencies.
  • The Bank of Canada also expects to ease rates this year, as revealed in the minutes from the central bank’s policy meeting earlier this month. However, policymakers remain divided over when there will be enough evidence that conditions are right for cuts.
  • The decline in the price of oil, one of Canada’s major exports, had little impact on the loonie. U.S. crude oil futures settled 2.1% lower at $81.68 a barrel, giving back some recent gains.
  • Canadian government yields fell across the curve, tracking moves in U.S. Treasuries. The 10-year yield was down 3.2 basis points at 3.492%, extending its pullback from the highest intraday level in one month at 3.624% on Tuesday.

In summary, the Canadian dollar’s ascent reflects optimism about the Fed’s commitment to rate cuts, while the Bank of Canada keeps a close eye on economic conditions. 


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