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DO YOU HAVE TO PAY TAXES ON CRYPTO?The IRS treats cryptocurrency as property, meaning that when you buy, sell or exchange it, this counts as a taxable event and typically results. You're required to pay taxes on crypto. The IRS classifies cryptocurrency as property, and cryptocurrency transactions are taxable by law. If you held a particular cryptocurrency for more than one year, you're eligible for tax-preferred, long-term capital gains, and the asset is taxed at 0%, 15%.