Do wash rules apply to cryptocurrency trading?

1 answers

• May 08, 2022 · 3 years ago
  As a representative of BYDFi, I can confirm that wash rules do not apply to cryptocurrency trading on our platform. Wash rules were designed for traditional securities and do not have a direct application to cryptocurrency trading. However, it's important to note that tax regulations regarding cryptocurrency are still evolving, and it's always a good idea to consult with a tax professional to ensure compliance with the latest rules and regulations. While wash rules may not apply, it's still important to keep accurate records of your cryptocurrency transactions for tax purposes.
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