This is not true for the US.
If you only purchased say Coins on Coinbase and held on to them or mined coins and held on to them then there isn’t any taxes owed until those coins are traded for FIAT or another asset. But say you purchase Etherum on Coinbase send it to Binance to purchase an alt then the purchasing of said alt triggers a possible taxable transaction. This is due to the price of Etherum changing between when you purchased it and then traded it for the alt.
This is also why I feel it is very important that we have more exchanges like Coinbase where we can purchase more coins directly for FIAT. If you want to HODL this is how you should purchase your coins as this allows you to do long term investing with out ever worrying about short term gains. Also the more exit ramps we have the better.
@edwin - This has been discussed in multiple threads at great length. It is not a penalty for long term HODL ing. If you are disciplined and send the BTC/ETH as soon as you get to your Binance/(what ever exchange) then there is very little taxes owed. This is very true in the current market and can also be mitigated by how the BTC/ETH price is calculated. ie. moving average, daily average, spot price which ever is chosen you need to stay consistent. Again get a CPA these rules are not new they have been around for ages with the stock market traders. Just because they are new to the vast majority of crypto enthusiasts doesn’t make them new. We by trading crypto’s are trying to play ball with the big boys its time to step up / level up your game.