Tax expert says buying crypto is not a taxable event

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Tax expert says buying crypto is not a taxable event
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What should crypto investors expect from the expected tax regulations? An EYnews crypto tax executive explains that purchasing cryptocurrency with fiat and any unrealized appreciation are not taxable events, while selling your crypto would be.

While many refer to crypto as the “Wild West,” some believe that this may only continue for a little longer.

The EY executive notes that with the increased popularity of crypto, lawmakers are continuously exploring how to generate revenue by taxing and regulating digital assets.

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