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AML Compliance & Financial Crimes Prevention Training

Tailored to comply with changing regulations and evolving financial crimes, our network of experienced industry experts ensures business resilience, trust, and commitment to anti-money laundering and financial crime prevention to meet your capacity-building needs.

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Frequently Asked Questions

Yes, Wiligent offer a free 30-minute virtual call. Call to discuss your particular needs and offer an estimate of the cost per hours for our services
Yes, if you have received a digital asset (as a reward, award, or payment for property or services) or sold, exchanged, or disposed of it (or a financial interest in it) at any point during 2021-2023. No, if you have only held a digital asset in a wallet or account, transferred it from one wallet or account that you own or control to another wallet or account that you own or control, or purchased digital assets using U.S. or other fiat (real country currency), including through the use of electronic platforms such as PayPal and Venmo.
Cryptocurrency gains are typically taxed as capital gains, either short-term or long-term, depending on the holding period.
Calculate gains or losses by subtracting the cost basis (purchase price and transaction fees) from the selling price.
Yes, holding cryptocurrencies for over a year typically qualifies for lower long-term capital gains tax rates.
Yes, crypto-to-crypto trades, i.e., BTC to ETH, are taxable events, and gains or losses should be reported.
You can deduct up to $3,000 of capital losses from cryptocurrency transactions against other types of income. Excess losses can be carried forward to future tax years.
Cryptocurrency mined and staking are considered income, and its value at the time of receipt is subject to taxation. You’ll also pay Capital Gains Tax on any gain if you later sell, swap, or spend your staking rewards.
Commonly used forms include Form 8949 and Schedule D, along with Form 1040 for individual tax returns.Can’t seem to find the solutions to stay in compliance? Wiligent is here to help.
No.
No (until traded, spent, or sold).
Yes, when you use cryptocurrency to buy goods or services, it is treated as a disposal of property, similar to selling an asset, and is considered a taxable event in the United States.
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