Blockfi taxes included GUSD withdrawals is this right?

[paradigmcomplex]

Each withdrawal of GUSD was included as capital gains/losses, is this right?

[Critter-3]

https://blockfi.com/tax-implications-of-blockfis-crypto-interest-account

[SundayInSalem]

It depends on your withdrawals. Blockfi is also a crypto lender. 

The IRS treats sales or exchanges of cryptocurrency as a capital transaction.

Taking a loan would not be a taxable exchange, just like money received for a car loan is not taxable because you have pay it back with interest.

Rewards are generally not capital transactions because you have to do something to earn a reward. Most likely it will be hobby income because earning rewards is not a business for you.

And as tax guru @Critter-3 so expertly pointed out, interest is taxable as interest income, and is not a capital transaction.

For more info see TurboTax's Your Crypto Tax Guide.