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A Beginner’s Guide to Crypto Taxes: What If You Don’t Pay

Is crypto taxable in the US?

In the U.S., the IRS treats digital assets (like cryptocurrency and NFTs) as property. Selling for dollars, swapping one token for another, or spending crypto usually creates a capital gain or loss. Income you earn in crypto—staking rewards, mining, airdrops, interest—generally counts as ordinary income at the moment you control it. The IRS asks about this directly on Form 1040’s “digital assets” question.

The IRS even issued a specific ruling for proof-of-stake: rewards are taxable when you have dominion and control(that is, when you can move or sell them).

If you dispose of crypto, you typically report it on Form 8949 and Schedule D—the same forms used for stocks.

What actually happens if you don’t report?

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Top 5 USDT Alternatives: USDC, PYUSD, USDP, GUSD, FDUSD

If you use USDT for trading or payments, you’ve probably wondered what other 1:1 USD stablecoins exist—especially ones with clear reserve disclosures and strong oversight. Below are five widely used, fiat-redeemable options that aim to hold $1.00 at all times, along with what makes each different and when to reach for them.

Before we jump in, a reminder on what “good” looks like for USDT alternatives: transparent, high-quality cash and T-bill reserves, 1:1 redemption with the issuer, frequent attestations or reporting, and—ideally—regulatory supervision. New York’s Department of Financial Services (NYDFS), for example, set guidance that USD-backed stablecoins under its remit must be fully reserved in low-risk, highly liquid assets and redeemable 1:1.

1. USDC — Circle’s fully reserved dollar coin

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Bitcoin’s Overhead Resistance Problem Explained

Bitcoin has spent weeks bumping its head on new price ceilings, only to slip back and try again. A fresh analysis from Cointelegraph sums up the frustration: momentum has faded just as long-term holders sell into strength, while a firmer U.S. dollar saps risk appetite. Even strong spot-ETF inflows haven’t consistently flipped sentiment.

Long-term holders are selling into strength

In every cycle, investors who sat on sizable unrealized gains eventually start taking profits. On-chain data suggests that’s happening again. Glassnode reports that long-term holders (LTHs) have been net distributors in recent weeks, after months of accumulation—classic “sell into rallies” behavior that often caps price advances until supply is absorbed.

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How to Exchange SOL to USDT on Ybex

If you hold Solana (SOL) and want the stability of Tether (USDT), learning how to move from SOL to USDT smoothly is essential. Maybe you’re locking in profits, reducing volatility, or preparing to buy another coin. In all of those cases, a simple, non-custodial service like Ybex can make the process much less intimidating.

Understanding the Basics

Before you swap SOL to USDT, it helps to know what you’re dealing with.

Solana (SOL)

Solana is a high-performance blockchain built for speed and low fees. It uses a combination of Proof of Stake (PoS) and a unique Proof of History (PoH) mechanism to process thousands of transactions per second at very low cost.

The SOL token is used to:
- Pay transaction fees on the Solana network
- Stake and help secure the chain
- Interact with dApps in DeFi, NFTs, and gaming

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