@pk Thank you so much for the detailed explanation! The reason I am doing research about this is because the laws on crypto taxation are not fully clear yet back in my country but are more well defined in the US. And also so that I can do it the right way and abide by the laws here if I decide to go ahead with disposing off crypto assets here.
Another question: How will the cost basis be calculated for a crypto asset that was bought in a fiat currency other than USD on an international exchange? Do I have to consider the forex rate of the fiat with USD on the date I bought the particular crypto and then calculate the cost basis?
Your responses are much appreciated! Thank you!
