As @enforcer48 said below... And if you remember you even had groups like Utopian that had actual self proclaimed marketing "experts" with millions of dollars worth of Steemit.inc delegation at one point.
In US/Canada you would be destroyed.
If im completely honest, ive no idea what any crypto devs and investors are still doing living in USA.
It's the transfer portion. So let's say I cash out 100k CAD from crypto, doesn't matter which crypto. I now have 100k CAD in my account. I've earned or otherwise obtained the profits in the sum of 100k CAD. Therefore my earnings for the year are that 100k CAD + whatever else I regularly made. I can then take that money and pay someone. If I'm filing my taxes as a private individual, I'm now flagged because I received a huge sum and distributed a huge sum. I also jumped the tax bracket. If I'm a business account, I now have 100k CAD in revenue and 100k CAD in subsequent spending. If I were a small business not filing because my annual revenue was under 30k CAD, I now have to file. However, if I'm a medium sized company with let's say $500k CAD annual profits and maybe $300k CAD annual costs in salaries plus whatever I spend on other things, that 100k CAD is normal. My existing accountant will assign it in the appropriate category and there is no impact to me or my business.
If I'm a large stakeholder and crypto investor and received 100k CAD in crypto, let's say HBD, then what I would do is keep it in crypto. I'd swap it to HIVE, etc. And I would pay the intended recipient in CAD, because I'm wealthy enough to have 100k CAD sitting there. Maybe I'd have to sell some stagnating stock to free it up. But in that case, I'm already in the appropriate tax bracket, I already know how to handle large sums of money, and this is just part of my regular activities. On paper I'm doing a payment, not a one-stop transfer.