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the common analogy would be an FX pair (like GBPUSD)

• nerdponx 5y ago
  And how are forex transactions taxed? Why don't we just apply that policy to crypto?
  • ska 5y ago
    > Why don't we just apply that policy to crypto? This is the core of the whole issue; IRS (and similar bodies) are deciding what crypto "is", at least for tax purposes (as is their purview). That has implication for how and when things are taxed.
  • blibble 5y ago
    in the UK it depends on the intent of the transaction speculation is treated differently to full-time trading, which is in term treated differently to trying to make some money on the side