Financial advisor Lee Baker explained the tax-loss harvesting strategy for cryptocurrency investors and pointed out that currently, direct sales of cryptocurrencies are not subject to the "wash-sale rule," allowing for immediate repurchase. However, this exemption does not apply to Bitcoin ETFs, which follow traditional securities rules. Investors should keep transaction records for seven years and pay attention to the IRS's newly introduced 1099-DA form, which is used to report digital asset transactions.