Canadian tax officials are seeking info on crypto exchange Coinsquare's customer base: report

Canadian news outlet National Post reports that the country's tax authority has gone to court in an effort to press crypto exchange Coinsquare to divulge information about its clients.

The November 6 report cites court documents from September, stating that "Canada’s tax agency is asking a judge to force Toronto-based crypto trading platform Coinsquare to hand over information and certain documents about all its clients since the beginning of 2013."

According to the report, Coinsquare is weighing the CRA information request and weighing its options.

“Coinsquare maintains a robust customer verification process, and we understand our customers comply with all applicable Canadian laws relating to their cryptocurrency trading activities,” Coinsquare CEO Stacy Hoisak was quoted as saying by the outlet. 

The developments carry echoes of the U.S. Internal Revenue Service's push to extract customer data from crypto exchange Coinbase. In 2018, the court sided with Coinbase, and the exchange ultimately provided the U.S. tax authority with information on those who used its services between 2013 and 2015.