What are the tax rules for long-term capital gains on cryptocurrencies?

1 answers

• Dec 30, 2021 · 3 years ago
  BYDFi does not provide tax advice, but we can provide some general information on the tax rules for long-term capital gains on cryptocurrencies. Long-term capital gains refer to profits made from the sale of cryptocurrencies that were held for more than a year. These gains are subject to different tax rules compared to short-term gains. The tax rates for long-term capital gains can be more favorable, with lower rates applied to the gains. However, it's important to note that the tax rules and rates may vary depending on the country you reside in. It's recommended to consult with a tax professional or refer to the tax laws of your country to ensure compliance with the tax rules for long-term capital gains on cryptocurrencies.
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