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T1135 - cryptocurrency with detailed reporting - how to break it down and country?


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I will need to report more than $250k outside of Canada this year based on cryptocurrency.  I am confused about how to fill the T1135.

1) Select the category of specified foreign property held at any time during the year:

Would crypto be a) Funds held outside of Canada; or b) Other property outside of Canada?

2) Description of property
I have multiple wallets and multiple exchange accounts.  Should I have a) one category called "Cryptocurrency" or b) break it down by exchange.  If b) what would I do about online wallets?

3) Country code:

I'm not sure this question even makes sense.  If I used an online wallet (integrated to a browser) there is no country.  If I use an exchange like Binance, would I indicate its headquarters or its datacenter (not sure i know).  There is a country code of "Other".  


Currently I am thinking of a single entry:
1) Other property outside of Canada
2) Cryptocurrency
3) Other 



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  • 1 year later...

When describing the property, you can choose to list "Cryptocurrency" as a category and then break it down by exchange. If you're dealing with online wallets, you could include them under "Cryptocurrency" as well. This gives a clear overview of your crypto holdings.

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The country code can indeed be a bit puzzling, especially with online wallets. For exchanges like Binance, it's generally the headquarters' country that matters. If you're unsure, you can use "Other" and provide additional context if needed.
Your approach of a single entry with "Other property outside of Canada" and "Cryptocurrency" sounds reasonable. Just make sure to keep detailed records in case you need to provide further information.
If you're heavily involved in crypto, you might consider exploring a crypto mixer tool. It can help enhance privacy and security in the crypto world.

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