Trudeau Wants Data On 200K Canadian Crypto Customers

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Last Updated on 3 December 2020 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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It would appear that the Canadian government of Justin Trudeau is eager to get their hands on the crypto purchasing and selling data of some 200,000 Canadians. Via the tax authorities, the liberal government of the Prime Minister has asked a federal judge to forge company Coinsquare to hand over the data. The Canadian opposition press, namely newspaper the National Post, is not too happy about it. On social media many already refer to a similar scandal back in 2018, when Trudeau had to admit that he had asked some 500k Canadians for their banking data… without their knowledge.

Advertentie.

Stats Canada

Prime Minister Justin Trudeau had a hard time getting reelected last year. Not only was he having a spot of trouble from a resurgent opposition, he was also plagued by many scandals in which he had preferred to provide friends of his family with government contracts. One of the scandals that has since haunted him was the so-called Stats Canada one, which was widely reported in the press back then.

YouTube video

Back in 2018, Canadians were surprised to hear that anonymous personal banking data of some 500,000 Canadians had been collected by the department of statistics, known as Stats Canada.

Trudeau explained in the House of Commons that it would be used for statistical purposes only and not made public when pressed by the opposition party, the Conservatives, to assure that the “intrusion into their lives” would immediately be stopped. It was the first of many spots on his record since.

Of course given that Trudeau showed up in blackface since and was faced with a departing justice minister means it was only the first of many scandals for him in the past year.

Coinsquare

However many Canadians were this week reminded of the 2018 Stats Canada scandal when they heard that the Canada Revenue Agency (CRA) wants the same kind of data from a crypto company in Toronto known as Coinsquare.

David Piccolo, a tax lawyer, explained in the National Post:

CRA could use this information to essentially try to verify or to match certain transactions with what was reported in Canadians’ tax filings. Then CRA does their internal risk assessment (to determine) whether these are worth pursuing in audit.

One more government realizes the power of crypto we guess.