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DO YOU HAVE TO PAY TAX ON CRYPTOCURRENCY? (UK)Short-term crypto gains on purchases held for less than a year are subject to the same tax rates you pay on all other income: 10% to 37% for the. Cryptocurrency is taxable if you sell it for a profit, or earn it as income. You report your transactions in U.S. dollars, which generally. Consequently, the fair market value of virtual currency paid as wages, measured in U.S. dollars at the date of receipt, is subject to Federal income tax.
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