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What are the tax implications for unrealised capital gains in the cryptocurrency market?

avatarBishop WollesenDec 25, 2021 · 3 years ago1 answers

Can you explain the tax implications for unrealised capital gains in the cryptocurrency market? How does it affect individuals and businesses? What are the specific rules and regulations that need to be followed?

What are the tax implications for unrealised capital gains in the cryptocurrency market?

1 answers

  • avatarDec 25, 2021 · 3 years ago
    When it comes to the tax implications of unrealised capital gains in the cryptocurrency market, it's important to note that different jurisdictions have different rules and regulations. In some countries, such gains are not taxed until they are realized, while in others, they may be subject to taxation even if they are not realized. It's crucial for individuals and businesses to consult with a tax professional or accountant who is familiar with the specific rules and regulations in their jurisdiction. They can provide guidance on how to properly report and handle unrealised capital gains in the cryptocurrency market to ensure compliance with the tax laws.