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taxes on crypto currency
How Do You Pay Crypto Taxes? [2022 US Crypto Tax Explained]You're required to pay taxes on crypto. The IRS classifies cryptocurrency as property, and cryptocurrency transactions are taxable by law. Under the new system, cryptocurrency holdings will be counted as income from capital assets, and will be taxed at the special rate of per cent. Which. When you earn income from cryptocurrency activities, this is taxed as ordinary income. � You report these taxable events on your tax return.