Bitcoin profits are taxable when and if the capital gain is realized. The conversion of BTC into fiat is such a tax event. Also the purchase of the Lambo with BTC. However, there are cases which are not so clear-cut and might be handled by tax authorities in different jurisdictions differently. Let’s pick these three use cases:
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Transfer of BTC from one subwallet/account to another subwallet/account in the same wallet
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Transfer of BTC from the personal wallet to a (foreign or domestic) exchange or vice versa.
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Transfer of BTC into Monero and, sooner or later, transfer of the same XMR into different BTC in the same wallet.
We would appreciate any input regarding tax regulations or tax policies of these three transaction classes. Do they create a taxable event or not? Please kindly mention your jurisdiction. Thanks a lot.
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