Your holding period for cryptocurrency starts the day after you receive it.
This is consistent with the general rule for determining holding periods for property, as outlined in IRS Publication 544, "Sales and Other Dispositions of Assets." The holding period is crucial for determining whether any gain or loss on the sale or exchange of the cryptocurrency will be classified as short-term or long-term. If you hold the cryptocurrency for one year or less before selling or exchanging it, the gain or loss will be short-term. If you hold it for more than one year, the gain or loss will be long-term.
Sources:
Rev. Rul. 2019-24
Notice 2014-21
Publication 544 (2023)
Taxation of Bitcoin, Its Progeny, and Derivatives: Coin Ex Machina
