Many, but not all, transactions made in Bitcoin, Ethereum, and other digital currencies must be reported to the federal government. Only transactions resulting in gains versus losses may be taxed.
The Internal Revenue Service requires U.S. residents to report the following crypto events, which are considered taxable if:
You hold assets in cryptocurrency and use crypto to buy a good or service;
You sold or cashed your crypto assets for government-issued currency;
You traded one cryptocurrency for another;
Your employer paid you in cryptocurrency;
You were given free tokens through an airdrop.
Note: Similar regulations apply to other countries and governments, therefore, please check what documents are required by your local government.
Since crypto is taxed in many countries, keeping track of your crypto activity is essential. Currently, there's no CSV generation from the user's side, so only we can do it from our end.
Be sure to contact our Support team via Chat or Email to provide you with the CSV transactions document.