%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Canada's federal government is cracking down on unpaid cryptocurrency taxes. The Canada Revenue Agency has formed a team it calls "crypto asset auditors" and says they have recovered more than $100 million in unpaid taxes from about 200 cryptocurrency owners. The Canadian tax authority claims that 40% of taxpayers who own crypto such as Bitcoin (CRYPTO: $BTC ) and Ethereum (CRYPTO: $ETH ) haven't filed their taxes or are at high risk of non-compliance. So far, no criminal charges have been filed against crypto owners over unpaid taxes on their capital gains. But the Canadian government says it has found a new target for tax avoidance. With this year's tax filing season getting underway, Canada Revenue Agency says it plans to be more aggressive when it comes to crypto-based tax evasion. Officials in Ottawa say they are concerned about a growing number of taxpayers using crypto and the underground economy to evade taxes. As such, the Canada Revenue Agency now has 35 auditors working on its crypto asset team. So far, the team has targeted 230 crypto owners and recovered more than $100 million in unpaid taxes. At the same time, Canada's anti-money laundering agency, FINTRAC, has levied penalties against crypto firms for failing to comply with the country's Money Laundering Act. Last October, FINTRAC issued a record penalty of nearly $177 million against a domestic crypto exchange. The crypto tax and money laundering crackdown comes as prices for Bitcoin and other digital assets plunge. Bitcoin is currently trading at $83,000 U.S., having fallen 35% in the last four months.