Are crypto losses tax deductible?

Yes, crypto losses are generally tax deductible in most countries. When you sell cryptocurrency at a loss, you can use that capital loss to offset capital gains from other investments. In the US, if losses exceed gains, you can deduct up to $3,000 against ordinary income annually, with excess losses carried forward. However, tax treatment varies by jurisdiction—some countries classify crypto as property, others as currency. Wash sale rules may apply in certain locations, preventing you from immediately repurchasing the same asset. It's essential to track all transactions with dates and amounts. Tax regulations around cryptocurrency continue evolving, so consult a tax professional familiar with crypto in your region for accurate guidance on your specific situation.