The Ethereum Merge is shaping up to be the biggest event in the crypto space in over five years, and that could mean some significant impacts on your crypto portfolio.
We know that sometime between September 10th and 20th, the Merge will take place, resulting in the Proof of Stake “Beacon Chain” merging with the current Proof of Work Ethereum chain.
While speculation surrounds whether Ethereum will fork and what may happen to DeFi protocols, stablecoins, NFTs and more, essential questions remain around the potential tax implications that Ethereum holders could incur.
So what’s happening, and what do you need to know? Crypto tax calculator Koinly is here to explain.
What is the Ethereum Merge?
The ultimate result of the Ethereum Merge will be the transition from Proof of Work (PoW) to Proof of Stake (PoS) as the consensus mechanism for the Ethereum blockchain. Ethereum developers have flagged this move for years, with work initially beginning as far back as 2016.
The current estimate...
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