Minister François-Philippe Champagne introduced Bill C-31 to implement Budget 2025 priorities, including the new Crypto-Asset Reporting Framework requiring crypto platforms to report user information to tax authorities. This measure targets tax evasion and enhances transparency in the crypto sector. The legislation also amends the Global Minimum Tax Act to ensure corporate tax compliance and strengthens housing finance laws. These steps reinforce Canada's AML and tax compliance frameworks amid evolving financial technologies.
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