• Investors and holders of cryptocurrencies may have to reconsider their tax strategy.
• Be aware that tax season starts and finishes at the same time.
• According to Koinly’s Head of Tax, taxable moments are exchanging, selling, gifting, and spending crypto.

The tax season is fast approaching, meaning that many people will have to go through the same old ritual of collecting receipts and assembling their finances in an attempt to prepare everything for accountants. Investors and cryptocurrency owners may have to change their tax strategies.

Because crypto is now taxed in many parts of the globe, this is not surprising. According to Tony Dhanjal, the head of Tax at crypto tax accounting platform Koinly, there are four main “taxable” moments that everyone dabbling in crypto will encounter throughout their crypto investing journey. These are the taxable moments of selling, buying, gifting and spending crypto.

Dhanjal went on to explain that “you’ll pay income tax when you’re seen to be earning an additional income throug …

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