The crypto exchange QuadrigaCX is undergoing an audit by the Canada Revenue Agency

According to the Globe and Mail, the disbanded cryptocurrency exchange QuadrigaCX is being audited by the National Taxation Office (CRA). The CRA has requested a tax return from QuadrigaCX from October 1, 2015 to September 30, 2018. The trustee EY (Ernst & Young), who oversees the QuadrigaCX bankruptcy process, said that CRA's requirements for documents and information are very important. In addition, Ernst & Young intends to discuss information requests with the CRA Audit Committee and its lawyers and, if necessary, return to the Court for further guidance. It further adds that responding to all requests for information from law enforcement agencies and regulators will directly affect how much of the 115,000 creditors who can repay QuadrigaCX. However, Ernst & Young acknowledges that there is no legal basis for refusing to respond to these requests. Therefore, the trustee's focus is on document collection, organization, review and production in a cost-effective manner. It is expected that the trustee will not respond to CRA audit requests at this time.