For example with USD, this also requires not just transacting in USD once a year, but hedging in the national currency, as many crypto earners and traders are l

For example with USD, this also requires not just transacting in USD once a year, but hedging in the national currency, as many crypto earners and traders are learning. If you get paid 1 BTC when BTC is worth $50k, you really should sell and hold 15-50% of it immediately to cover your tax obligation. If the price drops to $20k, you can sell and book a $30k loss, but you may only be able to deduct $3k of it against your $50k in income, leaving you in a bad spot come April 15.