Are all crypto transactions taxable?

Not every crypto transaction is taxable. The following activities are generally not considered taxable events:

• Buying crypto

• Transferring like-for-like assets between exchanges

• Gifting crypto excluding large gifts that could trigger other tax obligations

• Donating crypto, which is tax-deductible

The following crypto activities are generally considered taxable events:

• Selling crypto for cash

• Trading one digital currency for another

• Using crypto as payment

• Mining or staking crypto

• Receiving airdropped tokens

• Getting paid in crypto