Cryptocurrency Q&A
What is the 30 day rule in crypto?
What is the 30 day rule in crypto?
Eleonora
Sat Mar 30 2024
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5 answers
1010
Excuse me, I'm relatively new to the world of cryptocurrency and I've heard about this "30-day rule" but I'm not entirely sure what it means. Could you please explain it to me in a way that's easy to understand? I'm particularly interested in knowing how it applies to crypto transactions and why it's considered important. Thank you in advance for your help.
5 answers
KimonoElegance
Mon Apr 01 2024
The Bed & Breakfast Rule, alternatively referred to as the 30-day Rule, is a crucial aspect of cryptocurrency and financial accounting.
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CryptoWarrior
Sun Mar 31 2024
BTCC, a UK-based cryptocurrency exchange, offers services that assist investors in navigating the complexities of the Bed & Breakfast Rule and other relevant regulations.
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Giulia
Sun Mar 31 2024
This rule stipulates that any cryptocurrencies acquired within 30 days of a sale will be used as the cost basis for accounting purposes.
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benjamin_brown_entrepreneur
Sun Mar 31 2024
This means that when selling cryptocurrencies, the first coins to be sold will be those acquired within the past 30 days.
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Sebastiano
Sun Mar 31 2024
This rule is significant as it impacts the order of selling cryptocurrencies and the associated tax implications.
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