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Cryptocurrency Tax Hub 2026: Crypto Tax by Country

Daniel · CountryTaxCalc Updated June 2026
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KEY INSIGHT
In the US, crypto is treated as property — sales trigger capital gains tax at 0–20% for long-term holds or up to 37% for short-term. The UK treats crypto as a capital asset. Germany has a unique rule: crypto held for more than 1 year is tax-free. UAE and Singapore charge 0% on crypto gains. Use the guides below for your jurisdiction's rules.
At a glance

Key Facts

US Crypto Tax: Property, Not Currency
The IRS treats cryptocurrency as property under Notice 2014-21. Every disposal event — selling, trading one crypto for another, using crypto to buy goods or services — is a taxable event that triggers capital gains or loss. Crypto received as payment for services, staking rewards, and mining income is treated as ordinary income at the fair market value at the time of receipt. Long-term crypto gains (held more than 1 year) qualify for preferential CGT rates of 0%, 15%, or 20%.
Germany's 1-Year Tax-Free Rule
Germany has one of the most favourable crypto tax regimes for long-term holders in the developed world. Cryptocurrency held for more than one year is completely tax-free regardless of the gain amount (Spekulationssteuer exemption under § 23 EStG). Crypto held for less than one year is taxed as ordinary income. Staking income extends the holding period to 10 years for the staked coins under German law — a critical planning consideration for German crypto holders.
Wash Sale Rule: Crypto Exception
The US wash sale rule (IRC Section 1091) prevents investors from claiming a tax loss on a security if they repurchase a 'substantially identical' security within 30 days before or after the sale. Critically, this rule currently does not apply to cryptocurrency in the US — allowing crypto investors to sell at a loss to harvest the tax deduction and immediately repurchase the same crypto. Note: the Biden administration proposed extending wash sale rules to crypto, and legislative changes in this area should be monitored.
DeFi, Staking, and Airdrop Tax Treatment
The IRS has issued guidance on staking rewards (Rev. Rul. 2023-14): staking rewards are ordinary income in the year received, valued at fair market value at time of receipt. Airdrops received without any effort are also ordinary income. DeFi protocols — liquidity provision, yield farming, lending — each generate different tax events depending on the structure. The UK HMRC's crypto guidance covers similar ground in the UK context. These rules are evolving — check the crypto guides for current positions.
Introduction

Cryptocurrency tax is one of the fastest-moving areas of personal tax law. Governments worldwide are tightening reporting requirements, updating their treatment of staking and DeFi income, and imposing stronger disclosure rules on exchanges. The IRS has required crypto reporting on Form 1040 since 2019. The EU's DAC8 directive requires exchanges to report customer data from 2026.

This hub collects every crypto tax guide on CountryTaxCalc, covering country comparisons, US-specific crypto tax rules (including staking, mining, and wash sales), and zero-tax crypto jurisdictions. All figures are sourced from official government tax authorities.

Section 01

Global Crypto Tax Comparison

How different countries tax cryptocurrency gains, with a focus on key jurisdictions for crypto holders:

Section 02

US-Specific Crypto Tax Guides

Detailed guides for US crypto holders and US expats with crypto holdings:

Section 03

Related Hubs

Crypto tax intersects closely with capital gains and investment income topics:

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FAQ

Frequently Asked Questions

Do I pay tax on cryptocurrency in the US?

Yes. The IRS treats cryptocurrency as property, not currency. Every disposal — selling crypto for dollars, swapping one crypto for another, or using crypto to pay for something — is a taxable event that triggers capital gains or loss. Long-term gains (assets held over one year) are taxed at 0%, 15%, or 20% depending on your income. Short-term gains are taxed as ordinary income at up to 37%. Crypto received as staking rewards, mining income, or payment for services is ordinary income at the fair market value on the day received. Every crypto transaction must be reported on your tax return.

Which countries have 0% tax on cryptocurrency?

Several countries currently have no capital gains tax on cryptocurrency: UAE (0% personal income and capital gains tax), Singapore (no CGT on crypto — though professional traders may be assessed on income), Portugal (crypto held over 365 days was exempt until 2023 — rules have since changed; short-term crypto gains are now taxable), Hong Kong (no CGT), New Zealand (no CGT for personal crypto holdings — exceptions apply for frequent traders and business activity). Germany has a 1-year tax-free rule: crypto held for more than 12 months is completely tax-free under German personal tax rules.

Is crypto-to-crypto trading taxable in the US?

Yes. Under IRS guidance, trading one cryptocurrency for another (e.g., Bitcoin for Ethereum) is a taxable disposal event. At the moment of the trade, you realise a capital gain or loss equal to the fair market value of the crypto you received minus your cost basis in the crypto you gave up. This means that every DeFi swap, every trade on a centralised exchange, and every conversion is a potential tax event that must be tracked, valued, and reported. Form 8949 is used to report crypto disposals.

How is crypto staking taxed?

In the US, the IRS confirmed in Rev. Rul. 2023-14 that staking rewards are taxable as ordinary income in the year received, at the fair market value of the tokens on the date received. This means each staking reward distribution is an income event. When you later sell the staked tokens, you realise a capital gain or loss based on the sale price minus the income value at which the tokens were originally reported. In the UK, HMRC's position is similar: staking income is miscellaneous income or trading income depending on the scale and nature of the activity. Germany's 1-year holding period is extended to 10 years for staked coins.

Can I use crypto losses to offset other capital gains?

Yes. In the US, crypto losses can offset other capital gains (stocks, property, other crypto) dollar for dollar. If your net capital losses exceed capital gains, up to $3,000 of net loss can be deducted against ordinary income per year, with excess losses carried forward to future years. Crucially, the wash sale rule currently does not apply to crypto in the US — allowing you to sell at a loss, claim the deduction, and immediately repurchase the same crypto. This is a significant advantage over stock tax-loss harvesting, where the wash sale rule prevents this approach.

Do I need to report crypto on my tax return?

Yes — in the US, all crypto disposals must be reported on Form 8949 and Schedule D. Since 2019, Form 1040 includes a direct question asking whether you received, sold, or exchanged any cryptocurrency during the year. Failure to report crypto is not a safe option: the IRS receives transaction data from major exchanges under existing reporting rules, and expanded reporting requirements under the Infrastructure Investment and Jobs Act require exchanges to report all transactions to the IRS from 2025–2026. FBAR reporting may be required for foreign exchange accounts holding crypto above the $10,000 threshold.
Disclaimer:Cryptocurrency tax law is evolving rapidly. Rules around staking, DeFi, NFTs, and exchange reporting obligations are subject to ongoing regulatory updates. All figures in the linked guides are sourced from official government tax authorities (IRS, HMRC, BZSt, ATO) and reviewed at the date shown on each guide. This hub provides general educational information only — not tax or financial advice. For complex crypto portfolios, DeFi activity, or cross-border crypto tax situations, consult a qualified tax adviser with crypto experience.
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