Exactly.. you only pay taxes on what you sell on an exchange.
Discussion
So not what you buy and your gains? 🤨
Not true.
Ok. Aint none of us buying a house or a car from a dealer yet
If your coins are kyc'd, and you dispose of your crypto without paying capital gains, the IRS can look back several years. Sure you come clean with your kyc coins eventually, but your history will haunt you.