Crypto-Assets and Taxes

The taxation of cryptocurrency assets is handled differently in many places throughout the world. At the moment, cryptocurrency is still a very new technology, and regulation often lags well behind technological innovation. As such, no formal asset class has yet been defined within which one could regulate cryptocurrencies. 

As of right now, every country in the world has to ask themselves the question: "How will we classify a crypto-asset?" and not many have yet come up with clear answers. 

As a result, any unofficial discussion of how cryptocurrencies are or will be taxed should be regarded with scepticism. Unless a government has already made public their stance on crypto-taxation, no one yet knows with certainty the way that governments plan to tax or regulate cryptocurrencies.

We at Exodus would not presume to be authorities on multi-national tax laws. For these purposes, we highly recommend you contact a licensed and practised accountant or service provider who is knowledgeable about how your country's tax authority classifies cryptocurrencies.

Hopefully, in the future, more of the world can come to a consensus on how cryptocurrencies should be regulated if they can be regulated at all, and how crypto-taxation can be enforced. Until then, we are in a very unknown territory, and it is best to keep yourself as safe as possible - If your cryptocurrency transactions/exchanges/purchases may be taxable in your country of residence, we highly advise you speak to a certified professional with knowledge of the tax environment in your area.

If for this purpose you need your transaction history and balance for the assets you have in Exodus, you can easily export them for each asset separately by following the instructions in the following article. You should select the "Export Transactions" option. Here is a guide to help: http://support.exodus.io/article/77-does-exodus-have-advanced-export-options

Below are some services which offer help with crypto taxation - please do your own research before picking any of the below, you will need to pick the one who is aware of the tax rules of your local region.

  1. https://cointracking.info/ - USA
  2. https://www.cryptotrader.tax - USA
  3. https://cryptotaxgirl.com/ - USA
  4. https://cryptotax.io/en/ - Germany
  5. https://cleartax.in/services/cryptocurrency-advisory/p - India