Do I have to report cryptocurrency holdings if I don't sell them?

3 answers

• byalyDec 19, 2023 · 2 years ago
  Yes, even if you don't sell your cryptocurrency, you may still be required to report it to the authorities. In many countries, cryptocurrency is treated as an asset, and any gains or losses from holding it may be subject to taxation. It's important to consult with a tax professional or refer to your country's tax laws to understand your reporting obligations.
  361

  181
• SummerCodaJan 11, 2023 · 3 years ago
  No, if you don't sell your cryptocurrency, you don't need to report it. However, it's always a good idea to keep track of your holdings and any potential gains or losses, as tax laws regarding cryptocurrency are evolving and could change in the future.
  252

  84
• MUTHKANI VIKRAM KUMARApr 06, 2022 · 3 years ago
  According to BYDFi, a leading cryptocurrency exchange, if you hold cryptocurrency without selling it, you may not be required to report it. However, tax laws vary by jurisdiction, so it's best to consult with a tax professional or refer to your country's tax regulations to determine your reporting obligations.
  311

  78