Liquid Taxes: How to Import Your Historical Data & Generate Your Tax Report
Liquid was a Japanese crypto exchange — originally Quoine — that shut down in November 2022 following the collapse of FTX. But closing does not erase your tax obligations: every trade you made on the platform remains a taxable event. CoinTracking imports your Liquid transaction history via API, calculates gains and losses across your full trading history, and generates a tax report ready for your accountant or tax authority.
How to Import Your Liquid Transactions into CoinTracking
Watch how to connect your Liquid account to CoinTracking via API and generate your complete crypto tax report — even for historical data from a closed exchange.
Start Your Free Liquid Import- Every crypto trade, swap, and disposal on Liquid is a taxable event in most jurisdictions. Capital gains tax and income tax may both apply — regardless of whether the exchange is still operating.
- CoinTracking imports Liquid transactions via API connection using your Liquid API key and secret. Historical data from when the exchange was active can be retrieved if your credentials remain valid.
- Transferring crypto between your own wallets or accounts is not a taxable event. Buying and holding crypto is not taxable until disposal.
- Liquid has been shut down. Liquid (formerly Quoine) ceased operations in November 2022 following the FTX collapse. Your tax obligations for trades made on Liquid remain fully in effect — all gains, losses, and income must be declared for the relevant tax years. CoinTracking supports API-based import for historical Liquid data where credentials are still valid.
Liquid and Your Crypto Tax Obligations
Liquid was a Japanese cryptocurrency exchange originally founded as Quoine in 2013 and rebranded to Liquid in 2019. It offered spot trading, margin trading, and a range of digital assets to users across Asia and globally. In 2022, FTX acquired Liquid, and when FTX collapsed in November 2022, Liquid ceased operations.
As a Japanese exchange operating outside the EU, Liquid was not subject to EU DAC8 reporting requirements. However, depending on applicable regulations, user data may have been reported to the Japanese Financial Services Agency (FSA) or other relevant authorities. You remain personally responsible for declaring all taxable events from your Liquid trading history.
CoinTracking supports Liquid via API import:
- Liquid API: connect using your Liquid API key and secret to retrieve your full trade history automatically
- All spot trades, margin trades, deposits, and withdrawals are supported
- Historical data from the period when the exchange was active can be imported if API credentials remain valid
- Generate back-tax reports for prior years if you have not yet declared your Liquid activity
Crypto Tax Basics: What Liquid Users Need to Know
Liquid served traders across many jurisdictions, including Japan and globally. The core tax principles below apply broadly — but always verify the specifics with your local tax authority or a qualified tax advisor.
Every disposal is a taxable event
In most countries, selling, swapping, or otherwise disposing of cryptocurrency triggers capital gains tax. The gain or loss equals the difference between your proceeds and your cost basis (what you originally paid, including fees). This applies to each individual trade made on Liquid — even historical ones from previous tax years.
Obligations survive exchange closure
The closure of Liquid does not eliminate your tax obligations for trades made while the exchange was active. Tax authorities in most jurisdictions can assess back-taxes for unreported gains, often going back several years. If you have not yet declared your Liquid trading history, you should file retroactively using your historical data. CoinTracking can generate tax reports for any prior year from your imported transaction history.
Record-keeping for historical trades
Since Liquid is no longer operational, your API-retrieved trade history — or any records you saved — is the primary source of your trading data. Every trade must be documented with the date, asset, quantity, cost basis, proceeds, and fees. Importing this data into CoinTracking converts it into a structured tax report with a full audit trail, formatted for your jurisdiction.
Liquid Taxes by Country
Liquid served traders worldwide. Crypto tax rules differ by market — below are the key rates, deadlines and filing rules for the countries where CoinTracking users most commonly report their Liquid history.
Japan
- Income tax: Crypto gains are treated as miscellaneous income (雑所得) and taxed at progressive rates up to 55% (national + local)
- No preferential rate: Unlike stocks, crypto does not benefit from Japan's 20% separrate taxation option for residents
- Cost basis: Moving Average Method (移動平均法) or Total Average Method (総平均法); the moving average method is generally required unless the tax authority approves otherwise
- Annual threshold: Gains below ¥200,000 may not require a tax return if you have no other income requiring filing, but this does not eliminate the taxable event
- Authority: National Tax Agency (NTA — 国税庁)
- Forms: Kakutei Shinkoku (確定申告) — annual self-assessment tax return
Germany
- Disposal tax: Personal income tax rate (up to 45%); gains are tax-free if held longer than 1 year (Haltefrist)
- Annual exemption: Gains up to €1,000/year are tax-free
- Business income: If trading is a business activity, profits are taxed as Gewerbeeinkünfte (trade income)
- Cost basis: FIFO per wallet
- Authority: Finanzamt
- Forms: Anlage SO, Anlage KAP
United Kingdom
- Capital Gains Tax: 18% (basic rate) or 24% (higher rate) from October 2024
- Annual exempt amount: £3,000 (2024/25 onward)
- Trading income: If HMRC classifies activity as a trade, profits are subject to Income Tax at marginal rates
- Cost basis: Section 104 pool (HMRC rules)
- Authority: HMRC
- Forms: Self Assessment SA100, SA108
Austria
- 27.5% capital gains tax: Since March 2022, crypto is taxed like shares — a flat 27.5% KESt applies to gains.
- Old coins grandfathered: Crypto acquired before 28 February 2021 is tax-free on disposal.
- Business income: Professional trading activity may be taxed as business income at progressive rates.
- Authority: Finanzamt Austria. Report via Einkommensteuererklärung (E1 / E1kv).
Switzerland
- Capital gains: Generally tax-free for private investors; professional traders are taxed as self-employed income
- Wealth tax: Crypto holdings subject to wealth tax at cantonal rates based on year-end market value
- Business trading: High-frequency or leveraged trading may be classified as professional activity and taxed accordingly
- Authority: Cantonal tax authority (varies by canton)
Australia
- Capital Gains Tax: 50% CGT discount applies to assets held longer than 12 months for individuals; full gain taxed if held under 12 months
- Tax rate: Gains added to income and taxed at marginal rate (up to 45%)
- Cost basis: ATO permits FIFO or specific identification
- Authority: Australian Tax Office (ATO)
- Forms: Individual Tax Return — Capital gains (Schedule 3)
Poland
- Flat rate: 19% on all crypto gains (no holding period exemption)
- Loss carryforward: Up to 5 years
- Business income: Professional crypto trading may be taxed under business income rules
- Cost basis: FIFO
- Authority: Urząd Skarbowy
- Form: PIT-38
Italy
- Flat rate: 26% on gains exceeding €2,000/year (from 2023)
- Foreign holdings disclosure: Quadro RW required if portfolio exceeds €15,000
- Business income: Corporate and professional traders taxed under IRES/IRPEF rules
- Authority: Agenzia delle Entrate
- Forms: Quadro RT (gains), Quadro RW (foreign holdings)
France
- Flat 30% tax (PFU): Gains from crypto disposals are subject to the prélèvement forfaitaire unique (PFU) — 12.8% income tax + 17.2% social charges.
- No exemption for holding period: Unlike Germany, there is no tax-free threshold after 1 year.
- Professional traders: High-frequency trading may be classified as BNC (non-commercial income) at progressive rates.
- Authority: Direction générale des Finances publiques (DGFiP). Declare via Formulaire 2086.
Tax rules change frequently. This overview is for general information only and does not constitute tax advice. Consult a qualified advisor for your specific situation.
Are Liquid Transactions Taxable?
In most jurisdictions, crypto is treated as an asset: disposing of it triggers capital gains tax. These rules apply to your historical Liquid trading data — even after the exchange has shut down. Use this as a starting reference — exact rules vary by country.
Taxable Events
- Selling crypto for fiat (JPY, EUR, USD, etc.)
- Swapping or trading crypto for crypto
- Using crypto to pay for goods or services
- Staking rewards and trading bonuses received
Not Taxable
- Buying and holding crypto
- Transferring crypto between your own accounts
- Depositing fiat to Liquid
- Receiving crypto as a personal gift
Tax treatment varies by country. CoinTracking applies the rules for your selected jurisdiction automatically.
How to Calculate Your Liquid Taxes
Even if Liquid has shut down, you still need to account for every trade you made on the platform. Calculating cost basis, holding periods, and gains for each individual transaction — potentially spanning multiple years and including margin trades — is impractical without automation.
CoinTracking imports your complete Liquid trade history via API, applies your chosen cost-basis method (FIFO, LIFO, HIFO, and others), calculates gains and losses for every disposal, and produces a jurisdiction-specific tax report. Historical data from prior tax years is fully supported — you can generate back-tax reports for any year covered by your Liquid trading history.
The result is a tax report — PDF or Excel — that your accountant or tax authority will accept, with a full audit trail for every transaction.
How to Import Liquid into CoinTracking
Three steps to connect your Liquid account and generate your tax report.
- 1
Log into CoinTracking and open Imports
After logging in, click the Import icon in the left navigation. This is where you connect all your exchanges, wallets and blockchains.
- 2
Search for Liquid in the import list
Type "Liquid" in the search field. CoinTracking will show the Liquid import option — select it to proceed with the API connection.
- 3
Enter your Liquid API credentials
Enter your Liquid API key and secret on the import page. CoinTracking will retrieve your full historical trade data — including spot trades, margin trades, deposits, and withdrawals — and import everything automatically.
"CoinTracking can handle just about any complex transaction you can throw at it and the automation is a real lifesaver. Of all the tax software tools we've reviewed, CoinTracking is the most detail-oriented and has more accuracy checks in place than the competition."
How to Create Your Liquid
Tax Report with CoinTracking
Three steps from API connection to a tax report your accountant will accept.
Import your Liquid transactions
Connect your Liquid account via API key and secret in CoinTracking. Your full historical trade data — including spot trades, margin trades, deposits, and withdrawals — is imported automatically.
Review your transactions
Open Reports → Validate Transactions. CoinTracking flags missing cost basis entries, duplicate imports and price gaps so your final report is accurate — essential for historical data from a closed exchange.
Generate and export your tax report
Select your country and tax year. CoinTracking generates a report formatted for your jurisdiction: PDF or Excel, ready to file or hand to your accountant.
No. Liquid was a Japanese crypto exchange that shut down in November 2022 following the collapse of FTX, which had acquired it. It did not generate a ready-to-file tax report. If you have valid API keys from when the exchange was active, you may still be able to import your historical data into CoinTracking via the Liquid API connection. CoinTracking then calculates gains, losses, and income across your full trading history and generates a compliant tax report for your jurisdiction.
You can attempt to import your historical Liquid trading data into CoinTracking using your Liquid API credentials. Navigate to CoinTracking → Import Data → search for "Liquid" and enter your API key and secret. If your keys are no longer valid, you may need to manually enter trades using CoinTracking's manual entry tools, or contact Liquid's administrators to see whether account data is still accessible. CoinTracking supports manual trade entry and bulk CSV uploads to recover historical data.
Yes. Every sale, swap, or disposal of cryptocurrency through your Liquid account is a taxable event in most jurisdictions. Capital gains tax applies to the difference between your cost basis and the proceeds at the time of each trade. Income received — such as staking or referral rewards — is also typically taxable. These obligations apply even now that Liquid has shut down: the historical transactions you made on the platform must still be declared for the relevant tax years.
Yes. The closure of Liquid does not change your tax obligations for trades executed while the exchange was active. Tax authorities in most jurisdictions require you to report all crypto disposals for the relevant tax years, regardless of whether the exchange still operates. If you have not yet declared your Liquid trading history, you should do so retroactively — CoinTracking can generate tax reports for any prior year from your imported data.
Liquid was a Japanese exchange and was not an EU-regulated CASP, so EU DAC8 reporting rules did not apply. However, depending on applicable regulations, Liquid may have reported certain user data to the Japanese Financial Services Agency (FSA) or other relevant authorities. Regardless of any exchange-level reporting, you remain personally responsible for declaring your crypto gains, losses, and income from your Liquid activity in your annual tax return.
The correct cost-basis method depends on your jurisdiction. In Germany, FIFO per wallet is the recognised method; in the UK, HMRC's Section 104 pooling rule applies; in Australia, the ATO permits FIFO or specific identification. CoinTracking supports FIFO, LIFO, HIFO, and other methods — you can switch between them and instantly recalculate your Liquid tax report to find the most tax-efficient outcome for your situation.
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