Are cryptocurrencies considered marketable securities for tax purposes? 📊

3 answers

• ElviraMay 16, 2024 · a year ago
  Cryptocurrencies are not considered marketable securities for tax purposes. In most jurisdictions, they are treated as property or assets. This means that any gains or losses from cryptocurrency transactions may be subject to capital gains tax. It's important to keep track of your transactions and report them accurately to ensure compliance with tax regulations.
  364

  182
• Meredith LiuJun 17, 2022 · 3 years ago
  No, cryptocurrencies are not classified as marketable securities for tax purposes. They are considered a form of digital currency or virtual asset. The taxation of cryptocurrencies varies from country to country, but in general, they are subject to capital gains tax when sold or exchanged for fiat currency. It's advisable to consult with a tax professional or accountant to understand the specific tax regulations in your jurisdiction.
  437

  146
• saket kumarSep 28, 2021 · 4 years ago
  According to BYDFi, a leading cryptocurrency exchange, cryptocurrencies are not marketable securities for tax purposes. Instead, they are treated as digital assets. The tax treatment of cryptocurrencies can vary depending on the jurisdiction. In some countries, they may be subject to capital gains tax, while in others, they may be treated as income. It's important to consult with a tax advisor to ensure compliance with the tax regulations in your specific location.
  469

  118