Hi guys, the regulations and taxation in my country regarding cryptocurrencies are very obscure, and unclear, and they leave a lot of questions unanswered. So, for this reason, I want to ask you about this:
Basically, if I go to an exchange ( Binance ) and buy several BNB tokens with FIAT, and then exchange those BNB tokens for some other tokens like EGLD or ADA or whatever, on the spot market ( basically exchange one currency for another market ), is that considered a transaction? Like, a transaction taxable in your country? I ask this because you don’t actually get something that has a real value, you get another crypto in return, you’re not exchanging that token for money. I am curious about the regulations your countries have on this.
I am aware that the regulations in your country may be different from those in mine, but they are valuable and provide insight on this matter. I also asked this questions in some other groups here, but even regular investors in crypto didn’t know the answer.