Shock in US Cryptocurrency Taxes! A Nightmare is Coming for Bitcoin and NFT Investors!

American crypto investors beware!

Tax season is also coming to the crypto world. The US Treasury Department is implementing new tax rules for cryptocurrencies.

Here's what you need to know:

Platforms like Coinbase and Kraken must report customer transactions starting in 2025.** This is the same practice that applies to brokers.

Tax liability will be yours in 2025.

However, starting from 2026, the tax office will automatically issue tax invoices based on reported data.

Exchanging stablecoins worth $10,000 or more or selling NFTs worth at least $600 is taxable.

Similar rules are planned for DeFi (Decentralized Finance) and DEX (Decentralized Exchange) platforms, but implementation details are still unclear.

In short, cryptocurrencies are no longer tax havens! Manage your investments carefully and remember to fulfill your tax obligations.