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- While lawmakers are discussing the issue, it may take some time before state-licensed online casinos are available.
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So you may owe taxes based on the crypto’s fair market value at the time of conversion. Yes (if you’re a New York resident), you do need to report all gambling winnings from offshore casinos when filing your federal and state taxes. Withdrawing your winnings from New York Online casinos involves a few key steps, but there can be some potential issues to watch out for.
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