I didn't even know that was a bill in the states! That sounds like something Canada would do, they're all about controlling what you have here. Hence why I hide my holdings in cold wallets. Our government is so money hungry and for what? We take care of immagrants better than our own citizens. They tax you on your gains in crypto even if you haven't taken profit. It's a shame to be Canadian.
That is one of the stupidest things ever. As you said, how would they know if you have your coins in a cold wallet for three years? If they do, then cold wallet means nothing.
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