Crypto Creators Economy Checklist 18: Implementing Taxing Requirements

The growth in the prominence of cryptocurrency and the shifting perceptions and acceptance of cryptocurrency over the years among individuals, entrepreneurs, as well as corporations has fostered the recognition of cryptocurrencies as an asset or property by the IRS, the implication being that your cryptocurrency is taxed just like assets such as stocks. This checklist is thus a guide into cryptocurrency taxation requirements.

The growth in the prominence of cryptocurrency and the shifting perceptions and acceptance of cryptocurrency over the years among individuals, entrepreneurs, as well as corporations has fostered the recognition of cryptocurrencies as an asset or property by the IRS, the implication being that your cryptocurrency is taxed just like assets such as stocks.

Crypto taxation policies vary in different countries and while the market is awash with crypto exchanges, intermediaries, as well as crypto brokers, the responsibility of keeping records of cryptocurrency transactions for taxation purposes lies solely on individual holders.