The only thing I think about on why the Canadian government do that is because they want to ask taxes on cryptocurrency activities that's why they are asking the information of the traders so that they can validate the income of individual and can ask some bigger taxes on the users.

 I think about on why the Canadian government do that is because they want to ask taxes on cryptocurrency activities that's why they are asking the information of the traders so that they can validate the income of individual and can ask some bigger taxes on the users.

I've read this news online few days ago, but I'm not worried about it because centralized exchanges can already do what they like with users data and KYC informations, you must have knew this already when you decide to start trading online on centralized exchanges

I think there's a movement throughout the world to switch from individual government Fiat currencies to one world digital currency as part of the globalists' push for their 'New World Order.' Anonymous Bitcoin users are a thorn in the side of this plan as they can't be easily controlled, surveilled, taxed, or regulated. If the governments can't control Bitcoin I think they will eventually do everything they can to make things as difficult as possible for the anonymous Bitcoin users- by taxing them heavily, handing them fines/legal troubles, making things as difficult as possible to trade and or buy/sell BTC, etc.

And as stated above, these big exchanges don't care one bit about your individual rights and liberties...   they are all about their $$$ and if the government asks for information they will hand it over without even putting up a fight. As far as my personal Libertarian opinon- I would avoid these big exchanges and BTC companies as much as possible and try to do things person-to-person as much as you can.

This is very alarming for some CEXs users now.  Might other governments in any country might do the same as the Canadian government.  Probably those who read this article might be worried if they care about their privacy or even others avoiding paying tax.  We know that money laundering might possibly happen especially for those big politicians that want to hide their big assets and cryptocurrency is the best tool to hide.  We can't blame if the government will take action like this.

IMO, as a good citizen, you must not evade taxes.  That's our obligation to pay tax while earning money on trading.  You should know those consequences that may happen in the future before using CEXs for trading.

Exchanges operate like banks without licenses. Most people hold lots of fake USD (tethers) on those exchanges too.

Most of them already demand KYC anyway. The ones that still don't ask KYC like Binance only let you play for a short period of time and then they also want a KYC check.

Don't think you are fooling the government by using crypto exchanges. They already know who you are.