That sounds correct. Your debit card sold a small portion of cryptocurrency each time that you made a purchase.
That small portion of cryptocurrency is considered a sale of a capital asset and subject to capital gain or loss.
For example, you bought crypto A for $100 and crypto A appreciated to $150. If you used crypto A to make a $150 personal purchase with the debit card, you will report a $50 gain on disposal of the unit of crypto A.
@fintiut
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