Once you cash out of a wallet, exchange coins or move it, does it create a taxable event. Can anyone help with this question. What are the differences between Canada and the U.S for these events.
Most probably the taxes are charged on the profit you make out form sale proceeds of Bitcoin or any crypto coins in a particular year and if the profits are more than taxable income then they came under Capital Tax gains and rate varies from country to country so you can find it slightly high or flat taxation on such gains.But if you are making inter wallet transfer then it's not taxable or giving charity with btc.But if you have reported the income from these crypto gains then it's taxable.For US tax guide follow this link and find in detail:
US crypto taxation