Disclaimer: This is not financial or tax advice.

In the US tax code, bitcoin is currently seen as a commodity, so there are potential tax implications if you sell it back into fiat, or even if you buy something with your bitcoin.

If the price went down before you sold/spent it, you can claim a loss.

If the price went up, you are supposed to claim a capital gain, and pay between 10-30% CGT (Capital Gains Tax).

The amount depends upon several factors, such as how long you held it before selling or spending, and in which tax bracket you land.

If you plan to sell or spend bitcoin, especially larger amounts, you may want to consider consulting with a tax professional.

If you simply buy and hold, you currently do not have any taxable events regarding bitcoin.

And if you buy non-KYC...