The Complete 2021 Bitcoin Tax Guide
When you transfer bitcoin into or out of an exchange, that exchange has no way of knowing how, when, where, or at what cost basis you originally acquired your bitcoin. This transferability makes it impossible for exchanges to give users gains and losses reports in USD terms.
Since cryptocurrency equals a property, an owner of digital currency can do whatever he/she wants as long as the activity is legal (i.e., trading, exchange, lending, HODLing). However, it is forbidden to pay for services or […]