Only moves after the initial purchase are gains/losses reported. So let's say you used the crypto to buy a house in the market and from the date of purchase of the crypto to the date of purchase of the home, If you paid $100 and now it's worth $1,000, you would have a personal gain on the purchase of the $900. If in these days the value dropped and it's worth $10, it's a personal loss of $90 and non-deductible. If you bought the shares as an investment though and exchanged the crypto you bought at $100 for new type or moved it to another exchange you have a reportable LT or ST gain or loss.
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