Are all crypto transactions taxable?

Published on Nov 27, 2024Updated on Dec 17, 20242 min read

Not every crypto transaction is taxable. The following activities are generally not considered taxable events:

  • Buying crypto

  • Transferring like-for-like assets between exchanges

  • Gifting crypto excluding large gifts that could trigger other tax obligations

  • Donating crypto, which is tax-deductible

The following crypto activities are generally considered taxable events:

  • Selling crypto for cash

  • Trading one digital currency for another

  • Using crypto as payment

  • Mining or staking crypto

  • Receiving airdropped tokens

  • Getting paid in crypto

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