Crypto & DeFi Tax Traps Canadians Are Still Falling for

Crypto taxation in Canada has evolved, yet many taxpayers remain unaware of the complexities involved. In 2025, the Canada Revenue Agency (CRA) is focusing on how crypto is used, exposing Canadians to costly tax traps. Misunderstandings around bridging tokens, staking rewards, and wallet transfers can lead to significant penalties. Beliefs like “no cash out = no tax” are increasingly risky. This article reveals the most common pitfalls and how to navigate them, ensuring you stay compliant and avoid audits. Don’t let misconceptions cost you—understand the nuances of DeFi taxation today!